Northpointe Capital LLC reduced its position in Beacon Roofing Supply Inc. (NASDAQ:BECN) by 8.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,394 shares of the company’s stock after selling 949 shares during the period. Northpointe Capital LLC’s holdings in Beacon Roofing Supply were worth $473,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Springbok Capital Management LLC raised its position in Beacon Roofing Supply by 275.5% in the first quarter. Springbok Capital Management LLC now owns 2,700 shares of the company’s stock worth $111,000 after buying an additional 1,981 shares during the period. BlackRock Inc. increased its stake in Beacon Roofing Supply by 116.8% in the first quarter. BlackRock Inc. now owns 3,442 shares of the company’s stock worth $141,000 after buying an additional 1,854 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Beacon Roofing Supply during the first quarter worth approximately $216,000. Schonfeld Strategic Advisors LLC purchased a new stake in Beacon Roofing Supply during the first quarter worth approximately $299,000. Finally, Strs Ohio increased its stake in Beacon Roofing Supply by 111.1% in the second quarter. Strs Ohio now owns 7,600 shares of the company’s stock worth $345,000 after buying an additional 4,000 shares in the last quarter.
Shares of Beacon Roofing Supply Inc. (NASDAQ:BECN) traded down 2.90% during midday trading on Friday, hitting $42.83. The stock had a trading volume of 896,745 shares. Beacon Roofing Supply Inc. has a 52-week low of $32.24 and a 52-week high of $48.96. The firm’s 50 day moving average price is $43.71 and its 200 day moving average price is $44.00. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 33.70 and a beta of 1.35.
Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, August 2nd. The company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. Beacon Roofing Supply had a return on equity of 9.66% and a net margin of 1.96%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $0.56 EPS. The company’s quarterly revenue was up 60.5% on a year-over-year basis. On average, equities research analysts expect that Beacon Roofing Supply Inc. will post $2.13 earnings per share for the current year.
A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday. Wedbush reiterated a “neutral” rating and issued a $50.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, September 6th. Robert W. Baird reiterated an “outperform” rating and issued a $55.00 target price on shares of Beacon Roofing Supply in a research report on Wednesday, July 6th. Jefferies Group assumed coverage on Beacon Roofing Supply in a research report on Wednesday, July 6th. They issued a “hold” rating and a $46.00 target price on the stock. Finally, BB&T Corp. upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Friday, June 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $48.44.
In other Beacon Roofing Supply news, Director Carl T. Berquist bought 5,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were purchased at an average cost of $44.81 per share, for a total transaction of $224,050.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $224,050. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Paul Isabella sold 45,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $46.31, for a total value of $2,083,950.00. Following the sale, the chief executive officer now owns 155,414 shares in the company, valued at $7,197,222.34. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.
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