Mitsubishi UFJ Trust & Banking Corp decreased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 26.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,132 shares of the company's stock after selling 2,182 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Beacon Roofing Supply were worth $623,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pier Capital LLC grew its holdings in shares of Beacon Roofing Supply by 3.0% during the 4th quarter. Pier Capital LLC now owns 90,954 shares of the company's stock worth $9,239,000 after purchasing an additional 2,691 shares during the period. Prudential Financial Inc. boosted its stake in Beacon Roofing Supply by 14.0% during the fourth quarter. Prudential Financial Inc. now owns 34,909 shares of the company's stock worth $3,447,000 after buying an additional 4,294 shares during the period. Advantage Alpha Capital Partners LP boosted its stake in Beacon Roofing Supply by 180.1% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 65,949 shares of the company's stock worth $6,699,000 after buying an additional 42,408 shares during the period. Vanguard Group Inc. increased its position in shares of Beacon Roofing Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock valued at $661,235,000 after acquiring an additional 24,027 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $1,300,000. Institutional investors and hedge funds own 98.45% of the company's stock.
Beacon Roofing Supply Stock Down 1.0 %
Shares of BECN traded down $1.21 during midday trading on Friday, reaching $122.43. The stock had a trading volume of 7,914,184 shares, compared to its average volume of 1,051,952. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 20.93 and a beta of 1.31. The company's fifty day simple moving average is $119.17 and its two-hundred day simple moving average is $107.61. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $123.90. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.
Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently weighed in on BECN. BMO Capital Markets lowered their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Raymond James lowered Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Stifel Nicolaus downgraded Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their price objective for the company from $131.00 to $122.55 in a report on Friday, February 7th. Zelman & Associates cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Finally, Baird R W lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $122.10.
View Our Latest Research Report on BECN
About Beacon Roofing Supply
(
Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.
Further Reading
Before you consider Beacon Roofing Supply, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Beacon Roofing Supply wasn't on the list.
While Beacon Roofing Supply currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
