Frontier Capital Management Co. LLC reduced its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 27.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,998,086 shares of the company’s stock after selling 1,130,877 shares during the period. Beacon Roofing Supply makes up about 1.1% of Frontier Capital Management Co. LLC’s investment portfolio, making the stock its 7th biggest position. Frontier Capital Management Co. LLC owned approximately 4.97% of Beacon Roofing Supply worth $153,652,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BECN. Tocqueville Asset Management L.P. purchased a new position in Beacon Roofing Supply during the third quarter valued at $402,000. Personal Capital Advisors Corp lifted its position in Beacon Roofing Supply by 77.0% during the third quarter. Personal Capital Advisors Corp now owns 19,375 shares of the company’s stock valued at $993,000 after purchasing an additional 8,431 shares in the last quarter. Strs Ohio lifted its position in Beacon Roofing Supply by 10.0% during the third quarter. Strs Ohio now owns 105,700 shares of the company’s stock valued at $5,417,000 after purchasing an additional 9,600 shares in the last quarter. Skylands Capital LLC lifted its position in Beacon Roofing Supply by 1,144.0% during the third quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock valued at $10,583,000 after purchasing an additional 189,900 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Beacon Roofing Supply by 0.8% during the third quarter. Fisher Asset Management LLC now owns 1,686,777 shares of the company’s stock valued at $86,447,000 after purchasing an additional 13,327 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

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Several equities analysts recently weighed in on BECN shares. Zacks Investment Research upgraded Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Northcoast Research raised Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Friday, August 25th. Robert W. Baird reissued a “buy” rating and set a $55.00 price target on shares of Beacon Roofing Supply in a report on Thursday, October 12th. Finally, KeyCorp reissued a “buy” rating and set a $56.00 price target on shares of Beacon Roofing Supply in a report on Sunday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Hold” and a consensus price target of $53.17.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.06). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share.

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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