Frontier Capital Management Co. LLC Has $188.37 Million Position in Beacon Roofing Supply, Inc. (BECN)

Frontier Capital Management Co. LLC trimmed its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 2,954,420 shares of the company’s stock after selling 43,666 shares during the quarter. Beacon Roofing Supply makes up about 1.4% of Frontier Capital Management Co. LLC’s holdings, making the stock its 2nd largest holding. Frontier Capital Management Co. LLC’s holdings in Beacon Roofing Supply were worth $188,374,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BECN. Fox Run Management L.L.C. purchased a new stake in Beacon Roofing Supply during the 4th quarter valued at approximately $535,000. Acadian Asset Management LLC purchased a new stake in Beacon Roofing Supply during the 4th quarter valued at approximately $4,684,000. CAPROCK Group Inc. purchased a new stake in Beacon Roofing Supply during the 4th quarter valued at approximately $212,000. Schwab Charles Investment Management Inc. grew its holdings in Beacon Roofing Supply by 13.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 457,222 shares of the company’s stock valued at $29,153,000 after buying an additional 55,211 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Beacon Roofing Supply by 18.2% during the 4th quarter. Bank of Montreal Can now owns 13,578 shares of the company’s stock valued at $866,000 after buying an additional 2,090 shares in the last quarter.

A number of brokerages have issued reports on BECN. Jefferies Group reaffirmed a “buy” rating and set a $73.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price objective (up from $62.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. KeyCorp reaffirmed a “buy” rating and set a $56.00 price objective on shares of Beacon Roofing Supply in a report on Sunday, October 15th. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective for the company in a report on Thursday, November 23rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $70.00 price objective (up from $55.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Beacon Roofing Supply currently has an average rating of “Buy” and an average price target of $58.64.

In related news, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $60.57, for a total value of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $119,500.00. Following the completion of the transaction, the executive vice president now directly owns 7,056 shares of the company’s stock, valued at $421,596. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.

Beacon Roofing Supply, Inc. (NASDAQ BECN) traded up $0.96 during mid-day trading on Thursday, hitting $63.49. 709,000 shares of the company were exchanged, compared to its average volume of 707,509. Beacon Roofing Supply, Inc. has a 1 year low of $39.57 and a 1 year high of $66.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06. The stock has a market capitalization of $4,300.00, a price-to-earnings ratio of 38.71, a PEG ratio of 1.32 and a beta of 1.49.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Monday, November 20th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. research analysts anticipate that Beacon Roofing Supply, Inc. will post 3.16 EPS for the current fiscal year.

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Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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

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