Sei Investments Co. lowered its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 94.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,202 shares of the company’s stock after selling 206,182 shares during the period. Sei Investments Co.’s holdings in Beacon Roofing Supply were worth $701,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. bought a new stake in Beacon Roofing Supply during the 4th quarter valued at $147,000. SG Americas Securities LLC bought a new stake in Beacon Roofing Supply during the 1st quarter valued at $244,000. Zeke Capital Advisors LLC bought a new stake in Beacon Roofing Supply during the 4th quarter valued at $247,000. Prime Capital Investment Advisors LLC bought a new stake in Beacon Roofing Supply during the 4th quarter valued at $257,000. Finally, Invictus RG bought a new stake in Beacon Roofing Supply during the 4th quarter valued at $320,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.
BECN has been the topic of several recent analyst reports. Zacks Investment Research downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 10th. BidaskClub raised Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a research note on Saturday, March 24th. Citigroup raised Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Tuesday, June 19th. Jefferies Financial Group downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. Finally, Northcoast Research downgraded Beacon Roofing Supply from a “buy” rating to a “neutral” rating in a research note on Monday, May 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.92.
BECN opened at $42.62 on Friday. Beacon Roofing Supply, Inc. has a one year low of $38.71 and a one year high of $66.47. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.13 and a current ratio of 2.18. The firm has a market capitalization of $2.90 billion, a PE ratio of 20.30, a PEG ratio of 0.41 and a beta of 1.34.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Tuesday, May 8th. The company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.26). Beacon Roofing Supply had a return on equity of 8.11% and a net margin of 1.80%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm posted ($0.04) EPS. The firm’s quarterly revenue was up 64.1% on a year-over-year basis. research analysts forecast that Beacon Roofing Supply, Inc. will post 3.44 EPS for the current year.
In other news, CFO Joseph M. Nowicki acquired 2,470 shares of the company’s stock in a transaction dated Friday, May 18th. The shares were bought at an average price of $40.45 per share, with a total value of $99,911.50. Following the purchase, the chief financial officer now owns 13,113 shares of the company’s stock, valued at $530,420.85. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Frost acquired 11,820 shares of the company’s stock in a transaction dated Tuesday, June 5th. The stock was purchased at an average cost of $42.46 per share, for a total transaction of $501,877.20. Following the purchase, the director now directly owns 9,207 shares in the company, valued at approximately $390,929.22. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by insiders.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.
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