Riverbridge Partners LLC cut its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,624,850 shares of the company’s stock after selling 87,247 shares during the period. Beacon Roofing Supply comprises approximately 1.6% of Riverbridge Partners LLC’s investment portfolio, making the stock its 15th biggest holding. Riverbridge Partners LLC owned approximately 2.69% of Beacon Roofing Supply worth $83,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in Beacon Roofing Supply by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 1,061,255 shares of the company’s stock worth $51,999,000 after buying an additional 22,749 shares during the last quarter. BlackRock Inc. increased its holdings in Beacon Roofing Supply by 1.2% during the second quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock worth $199,416,000 after buying an additional 47,779 shares during the last quarter. Vanguard Group Inc. increased its holdings in Beacon Roofing Supply by 5.4% during the first quarter. Vanguard Group Inc. now owns 4,845,530 shares of the company’s stock worth $238,207,000 after buying an additional 246,233 shares during the last quarter. State Street Corp increased its holdings in Beacon Roofing Supply by 2.4% during the first quarter. State Street Corp now owns 1,115,764 shares of the company’s stock worth $54,844,000 after buying an additional 26,202 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in Beacon Roofing Supply by 10.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock worth $91,807,000 after buying an additional 176,659 shares during the last quarter. Institutional investors own 90.12% of the company’s stock.

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BECN has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $58.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, July 24th. BidaskClub cut shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Jefferies Group LLC raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $54.00 in a research report on Friday, August 25th. Finally, KeyCorp raised shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price objective for the company in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $53.17.

Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) traded up $0.25 during midday trading on Monday, reaching $54.70. The company’s stock had a trading volume of 96,995 shares, compared to its average volume of 600,873. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 2.30. The firm has a market capitalization of $3,633.57, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 2.50 and a beta of 1.45. Beacon Roofing Supply, Inc. has a 12-month low of $39.57 and a 12-month high of $56.36.

Beacon Roofing Supply Company 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.

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

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