Russell Investments Group Ltd. bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,472 shares of the company’s stock, valued at approximately $2,489,000. Russell Investments Group Ltd. owned 0.09% of Beacon Roofing Supply as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Aperio Group LLC increased its stake in shares of Beacon Roofing Supply by 3.0% in the third quarter. Aperio Group LLC now owns 9,988 shares of the company’s stock valued at $420,000 after buying an additional 295 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Beacon Roofing Supply by 6.3% in the third quarter. First Trust Advisors LP now owns 76,689 shares of the company’s stock valued at $3,226,000 after buying an additional 4,560 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Beacon Roofing Supply by 28.1% in the third quarter. Public Employees Retirement Association of Colorado now owns 368,926 shares of the company’s stock valued at $15,521,000 after buying an additional 80,946 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Beacon Roofing Supply during the third quarter valued at approximately $273,000. Finally, Rothschild Asset Management Inc. increased its stake in shares of Beacon Roofing Supply by 3.1% in the third quarter. Rothschild Asset Management Inc. now owns 420,065 shares of the company’s stock valued at $17,672,000 after buying an additional 12,618 shares in the last quarter.

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) opened at 49.97 on Tuesday. The company has a 50-day moving average price of $46.02 and a 200 day moving average price of $44.76. Beacon Roofing Supply, Inc. has a 52 week low of $38.71 and a 52 week high of $50.61. The stock has a market capitalization of $3.00 billion, a P/E ratio of 29.45 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 2nd. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company earned $1 billion during the quarter, compared to analysts’ expectations of $1,000 million. Beacon Roofing Supply had a return on equity of 9.99% and a net margin of 2.49%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. Analysts forecast that Beacon Roofing Supply, Inc. will post $2.34 earnings per share for the current fiscal year.

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Several equities research analysts recently issued reports on BECN shares. Jefferies Group LLC reissued a “hold” rating and issued a $46.00 price objective on shares of Beacon Roofing Supply in a research note on Friday. Robert W. Baird reduced their price objective on Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Tuesday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $51.00 price objective (down from $54.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 22nd. Seaport Global Securities started coverage on Beacon Roofing Supply in a research note on Wednesday, December 7th. They issued a “buy” rating and a $53.00 price objective for the company. Finally, Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $51.00.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

5 Day Chart for NASDAQ:BECN

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