Public Employees Retirement System of Ohio increased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 8.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,359 shares of the company’s stock after purchasing an additional 8,679 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Beacon Roofing Supply were worth $3,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clayton Dubilier & Rice LLC lifted its position in shares of Beacon Roofing Supply by 78.1% during the 2nd quarter. Clayton Dubilier & Rice LLC now owns 10,550,161 shares of the company’s stock valued at $393,574,000 after buying an additional 4,625,998 shares in the last quarter. Iridian Asset Management LLC CT raised its position in Beacon Roofing Supply by 14.4% during the second quarter. Iridian Asset Management LLC CT now owns 3,712,742 shares of the company’s stock worth $136,332,000 after acquiring an additional 466,956 shares during the period. FMR LLC raised its position in Beacon Roofing Supply by 175.1% during the first quarter. FMR LLC now owns 550,230 shares of the company’s stock worth $17,695,000 after acquiring an additional 350,228 shares during the period. Nuveen Asset Management LLC purchased a new position in Beacon Roofing Supply during the second quarter valued at $12,221,000. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Beacon Roofing Supply by 162.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 447,777 shares of the company’s stock valued at $16,442,000 after purchasing an additional 277,365 shares in the last quarter.

In other news, Director Richard W. Frost purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $30.05 per share, with a total value of $90,150.00. Following the purchase, the director now directly owns 37,249 shares in the company, valued at approximately $1,119,332.45. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Cd&R Investment Associates Ix, purchased 3,207,200 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were purchased at an average price of $32.08 per share, with a total value of $102,886,976.00. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

A number of research firms have recently commented on BECN. Evercore ISI reissued a “hold” rating and set a $31.00 target price on shares of Beacon Roofing Supply in a research note on Thursday, August 8th. BidaskClub cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, November 25th. JPMorgan Chase & Co. lowered Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 price objective for the company. in a research note on Thursday, September 26th. Deutsche Bank initiated coverage on Beacon Roofing Supply in a report on Wednesday, November 27th. They set a “hold” rating and a $39.00 target price for the company. Finally, ValuEngine upgraded Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.09.

BECN opened at $29.29 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.75 and a quick ratio of 1.04. The company’s 50 day simple moving average is $32.32 and its two-hundred day simple moving average is $33.55. Beacon Roofing Supply, Inc. has a 1-year low of $26.50 and a 1-year high of $40.00. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.08 and a beta of 1.37.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Monday, November 25th. The company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.17). Beacon Roofing Supply had a negative net margin of 0.15% and a positive return on equity of 9.55%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the company earned $1.07 earnings per share. Beacon Roofing Supply’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Beacon Roofing Supply, Inc. will post 2.66 earnings per share for the current fiscal year.

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 solar systems.

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

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