Nomura Asset Management Co. Ltd. Purchases 150 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Nomura Asset Management Co. Ltd. lifted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 26.3% in the fourth quarter, HoldingsChannel reports. The fund owned 720 shares of the company’s stock after buying an additional 150 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Beacon Roofing Supply were worth $73,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BECN. Equitable Trust Co. increased its position in Beacon Roofing Supply by 1.7% in the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after purchasing an additional 122 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 shares during the last quarter. Cornerstone Investment Partners LLC grew its position in shares of Beacon Roofing Supply by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock worth $480,000 after buying an additional 166 shares during the period. HighTower Advisors LLC raised its stake in shares of Beacon Roofing Supply by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock worth $234,000 after buying an additional 181 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in Beacon Roofing Supply by 16.5% in the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BECN. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Raymond James downgraded Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. Loop Capital restated a “hold” rating and set a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st. Baird R W cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $122.10.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $123.64 on Friday. The company has a market capitalization of $7.64 billion, a P/E ratio of 21.14 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $123.90. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The company’s 50 day moving average price is $119.09 and its two-hundred day moving average price is $107.05.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Beacon Roofing Supply 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.