Assenagon Asset Management S.A. Has $18.11 Million Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Assenagon Asset Management S.A. grew its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 12.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 209,547 shares of the company’s stock after buying an additional 22,971 shares during the period. Assenagon Asset Management S.A. owned 0.33% of Beacon Roofing Supply worth $18,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Beacon Roofing Supply by 14.1% in the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after buying an additional 872,216 shares during the last quarter. Boston Partners lifted its position in Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Beacon Roofing Supply during the second quarter worth approximately $39,606,000. Jupiter Asset Management Ltd. grew its position in shares of Beacon Roofing Supply by 1,293.8% in the first quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock valued at $39,150,000 after purchasing an additional 370,756 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in shares of Beacon Roofing Supply during the first quarter worth approximately $35,777,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BECN has been the topic of a number of research reports. Royal Bank of Canada decreased their price objective on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Stephens cut their price objective on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.33.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $93.36 on Friday. Beacon Roofing Supply, Inc. has a 1 year low of $68.50 and a 1 year high of $105.42. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of -148.19 and a beta of 1.55. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. The firm’s 50 day simple moving average is $88.32 and its 200 day simple moving average is $92.29.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.66 EPS. As a group, research analysts expect that Beacon Roofing Supply, Inc. will post 7.37 earnings per share for the current fiscal year.

Insider Transactions at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the sale, the insider now directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Prithvi Gandhi acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $82.29 per share, with a total value of $411,450.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares in the company, valued at $411,450. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the transaction, the insider now directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.