Beacon Roofing Supply, Inc. (NASDAQ:BECN) Major Shareholder Cd&R Investment Associates Ix, Buys 4,625,998 Shares

Beacon Roofing Supply, Inc. (NASDAQ:BECN) major shareholder Cd&R Investment Associates Ix, purchased 4,625,998 shares of Beacon Roofing Supply stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $34.17 per share, with a total value of $158,070,351.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of BECN traded down $0.09 on Friday, reaching $35.41. 319,893 shares of the stock traded hands, compared to its average volume of 542,721. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.22 and a current ratio of 2.27. Beacon Roofing Supply, Inc. has a 12 month low of $24.97 and a 12 month high of $43.91. The stock’s 50-day moving average is $35.54.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.06. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Beacon Roofing Supply had a return on equity of 10.76% and a net margin of 0.41%. Beacon Roofing Supply’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.35) earnings per share. As a group, equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 2.91 earnings per share for the current year.

A number of research analysts recently weighed in on the company. ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Royal Bank of Canada raised their price objective on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a “sector perform” rating in a research note on Thursday, May 9th. Raymond James raised their price objective on Whitecap Resources from C$8.50 to C$8.75 and gave the company a “strong-buy” rating in a research note on Monday, June 10th. BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, Robert W. Baird raised their price objective on Thermo Fisher Scientific from $270.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $37.33.

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in shares of Beacon Roofing Supply by 42.3% in the fourth quarter. Rhumbline Advisers now owns 99,349 shares of the company’s stock worth $3,151,000 after buying an additional 29,519 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $129,000. Comerica Bank lifted its stake in shares of Beacon Roofing Supply by 36.3% in the fourth quarter. Comerica Bank now owns 19,839 shares of the company’s stock worth $723,000 after buying an additional 5,284 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Beacon Roofing Supply by 3,881.7% in the fourth quarter. Prudential Financial Inc. now owns 271,750 shares of the company’s stock worth $8,620,000 after buying an additional 264,925 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $1,408,000.

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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Insider Buying and Selling by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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