WCM Investment Management LLC lifted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 10.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 331,978 shares of the company’s stock after purchasing an additional 32,273 shares during the quarter. WCM Investment Management LLC owned about 0.48% of Beacon Roofing Supply worth $12,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Redmond Asset Management LLC boosted its holdings in Beacon Roofing Supply by 14.3% during the 1st quarter. Redmond Asset Management LLC now owns 245,124 shares of the company’s stock valued at $7,883,000 after acquiring an additional 30,619 shares during the period. Citizens Financial Group Inc RI purchased a new position in shares of Beacon Roofing Supply in the 1st quarter valued at about $343,000. Quantamental Technologies LLC purchased a new position in shares of Beacon Roofing Supply in the 1st quarter valued at about $63,000. FMR LLC purchased a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $6,344,000. Finally, Iridian Asset Management LLC CT boosted its stake in shares of Beacon Roofing Supply by 14.4% in the 2nd quarter. Iridian Asset Management LLC CT now owns 3,712,742 shares of the company’s stock valued at $136,332,000 after buying an additional 466,956 shares during the period.

Several brokerages have recently issued reports on BECN. Stephens set a $37.00 price objective on Beacon Roofing Supply and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Wedbush reiterated a “neutral” rating and issued a $33.00 price objective on shares of Beacon Roofing Supply in a research note on Wednesday, August 7th. ValuEngine cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. BidaskClub cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Beacon Roofing Supply in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $34.93.

In other news, Director Richard W. Frost purchased 11,754 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $34.17 per share, with a total value of $401,634.18. Following the completion of the transaction, the director now directly owns 34,249 shares in the company, valued at approximately $1,170,288.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cd&R Investment Associates Ix, purchased 4,625,998 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $34.17 per share, for a total transaction of $158,070,351.66. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Shares of NASDAQ BECN traded up $0.49 during midday trading on Thursday, hitting $31.37. 14,890 shares of the company’s stock were exchanged, compared to its average volume of 922,034. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.07 and a quick ratio of 1.17. Beacon Roofing Supply, Inc. has a twelve month low of $24.97 and a twelve month high of $42.00. The company has a market cap of $2.09 billion, a PE ratio of 11.54, a P/E/G ratio of 1.20 and a beta of 1.40. The firm’s fifty day simple moving average is $34.45 and its 200-day simple moving average is $35.53.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Tuesday, August 6th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.32). Beacon Roofing Supply had a return on equity of 9.63% and a net margin of 0.15%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the business posted $1.18 EPS. Beacon Roofing Supply’s revenue was down .5% on a year-over-year basis. Equities analysts anticipate that Beacon Roofing Supply, Inc. will post 2.48 EPS for the current fiscal year.

Beacon Roofing Supply 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 solar systems.

See Also: Analyst Ratings

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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