Public Employees Retirement System of Ohio reduced its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 38.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 156,397 shares of the company’s stock after selling 97,258 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.23% of Beacon Roofing Supply worth $4,961,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in BECN. Segall Bryant & Hamill LLC increased its position in shares of Beacon Roofing Supply by 4.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 11,214 shares of the company’s stock worth $356,000 after buying an additional 500 shares during the period. Strs Ohio increased its position in shares of Beacon Roofing Supply by 42.1% during the fourth quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $85,000 after buying an additional 800 shares during the period. Eagle Asset Management Inc. increased its position in shares of Beacon Roofing Supply by 0.5% during the fourth quarter. Eagle Asset Management Inc. now owns 199,720 shares of the company’s stock worth $6,335,000 after buying an additional 917 shares during the period. Csenge Advisory Group bought a new position in Beacon Roofing Supply during the third quarter worth $27,000. Finally, First Personal Financial Services bought a new position in Beacon Roofing Supply during the fourth quarter worth $33,000.
In related news, major shareholder Cd&R Investment Associates Ix, acquired 5,609,763 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $33.31 per share, for a total transaction of $186,861,205.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.
BECN opened at $33.71 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.35 and a current ratio of 2.43. Beacon Roofing Supply, Inc. has a fifty-two week low of $24.97 and a fifty-two week high of $55.01. The stock has a market cap of $2.27 billion, a P/E ratio of 12.49, a PEG ratio of 0.55 and a beta of 1.42.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Beacon Roofing Supply had a net margin of 0.43% and a return on equity of 11.19%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the firm earned $0.68 earnings per share. The firm’s revenue was up 53.5% on a year-over-year basis. Equities research analysts predict that Beacon Roofing Supply, Inc. will post 2.9 EPS for the current fiscal year.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Royal Bank of Canada set a $35.00 target price on shares of Beacon Roofing Supply and gave the stock a “hold” rating in a research note on Tuesday, March 26th. Raymond James set a $45.00 target price on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Robert W. Baird cut their target price on shares of Beacon Roofing Supply from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 26th. Finally, Buckingham Research cut their target price on shares of Beacon Roofing Supply from $38.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.12.
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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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