Acadian Asset Management LLC boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 59,763.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,537 shares of the company’s stock after purchasing an additional 27,491 shares during the period. Acadian Asset Management LLC’s holdings in Beacon Roofing Supply were worth $886,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. increased its stake in Beacon Roofing Supply by 4.3% during the 4th quarter. BlackRock Inc. now owns 5,031,890 shares of the company’s stock valued at $159,613,000 after purchasing an additional 207,663 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Beacon Roofing Supply by 27.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,907,782 shares of the company’s stock valued at $123,954,000 after acquiring an additional 849,333 shares during the last quarter. Iridian Asset Management LLC CT bought a new position in Beacon Roofing Supply during the first quarter valued at $104,384,000. Jennison Associates LLC increased its position in Beacon Roofing Supply by 3.3% during the fourth quarter. Jennison Associates LLC now owns 2,955,139 shares of the company’s stock valued at $93,737,000 after acquiring an additional 93,024 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C increased its position in Beacon Roofing Supply by 5.0% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 1,326,986 shares of the company’s stock valued at $42,092,000 after acquiring an additional 63,307 shares during the last quarter.
BECN traded up $1.17 during trading on Monday, reaching $37.89. 669,262 shares of the stock were exchanged, compared to its average volume of 752,357. The stock’s 50 day moving average price is $35.72. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.27 and a quick ratio of 1.22. The firm has a market capitalization of $2.59 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. Beacon Roofing Supply, Inc. has a 1 year low of $24.97 and a 1 year high of $43.91.
In other news, major shareholder Cd&R Investment Associates Ix, purchased 4,625,998 shares of the company’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $34.17 per share, for a total transaction of $158,070,351.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO C Eric Swank sold 5,250 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $38.14, for a total value of $200,235.00. Following the sale, the chief operating officer now owns 34,949 shares of the company’s stock, valued at $1,332,954.86. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Several analysts have commented on the stock. ValuEngine raised shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Wells Fargo & Co reiterated a “hold” rating on shares of Beacon Roofing Supply in a report on Wednesday, May 8th. Royal Bank of Canada increased their price target on shares of Beacon Roofing Supply to $40.00 and gave the stock a “sector perform” rating in a report on Thursday, May 9th. Wedbush reiterated a “neutral” rating and issued a $33.00 price target on shares of Beacon Roofing Supply in a report on Wednesday, May 8th. Finally, BidaskClub upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $37.33.
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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