River & Mercantile Asset Management LLP bought a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 43,947 shares of the company’s stock, valued at approximately $1,614,000.

Other large investors have also modified their holdings of the company. Griffin Asset Management Inc. bought a new position in Beacon Roofing Supply during the second quarter worth about $37,000. Point72 Hong Kong Ltd boosted its position in Beacon Roofing Supply by 13,564.3% during the second quarter. Point72 Hong Kong Ltd now owns 1,913 shares of the company’s stock worth $70,000 after purchasing an additional 1,899 shares during the period. Hardy Reed LLC bought a new position in Beacon Roofing Supply during the second quarter worth about $84,000. Strs Ohio boosted its position in Beacon Roofing Supply by 65.0% during the second quarter. Strs Ohio now owns 3,300 shares of the company’s stock worth $121,000 after purchasing an additional 1,300 shares during the period. Finally, We Are One Seven LLC bought a new position in Beacon Roofing Supply during the second quarter worth about $200,000.

A number of equities analysts have recently commented on BECN shares. Wedbush restated a “neutral” rating and issued a $33.00 price objective on shares of Beacon Roofing Supply in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered shares of Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 price objective for the company. in a research report on Thursday, September 26th. Raymond James set a $38.00 price objective on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research report on Wednesday, August 7th. BidaskClub lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, SunTrust Banks set a $40.00 price objective on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Hold” and an average price target of $34.64.

Shares of BECN stock traded up $0.74 during trading hours on Wednesday, reaching $31.30. The stock had a trading volume of 25,928 shares, compared to its average volume of 712,416. The stock’s fifty day simple moving average is $32.41 and its 200 day simple moving average is $34.77. The company has a current ratio of 2.07, a quick ratio of 1.17 and a debt-to-equity ratio of 1.59. Beacon Roofing Supply, Inc. has a 12 month low of $24.97 and a 12 month high of $40.00. The firm has a market capitalization of $2.09 billion, a PE ratio of 11.59, a PEG ratio of 1.04 and a beta of 1.42.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Tuesday, August 6th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.32). The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Beacon Roofing Supply had a net margin of 0.15% and a return on equity of 9.63%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 earnings per share. As a group, equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 2.39 EPS for the current fiscal year.

In related news, major shareholder Cd&R Investment Associates Ix, bought 3,207,200 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were acquired at an average cost of $32.08 per share, with a total value of $102,886,976.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.

About Beacon Roofing Supply

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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