Cramer Rosenthal Mcglynn LLC raised its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 51.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,174,020 shares of the company’s stock after buying an additional 397,770 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 1.94% of Beacon Roofing Supply worth $57,527,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Beacon Roofing Supply in the second quarter worth $100,000. Advisors Asset Management Inc. grew its stake in shares of Beacon Roofing Supply by 36.7% in the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after acquiring an additional 565 shares during the last quarter. Huntington National Bank grew its stake in shares of Beacon Roofing Supply by 3.8% in the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after acquiring an additional 116 shares during the last quarter. Lloyds Banking Group plc grew its stake in shares of Beacon Roofing Supply by 37.7% in the second quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock worth $180,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Advisor Group Inc. grew its stake in shares of Beacon Roofing Supply by 8.9% in the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after acquiring an additional 316 shares during the last quarter. Institutional investors and hedge funds own 91.22% of the company’s stock.

Several equities analysts have recently weighed in on BECN shares. KeyCorp restated a “buy” rating and set a $56.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, September 12th. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Beacon Roofing Supply in a research note on Tuesday, September 12th. Northcoast Research raised shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Friday, August 25th. Jefferies Group LLC raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and increased their price objective for the company from $50.00 to $54.00 in a research report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $52.27.

Beacon Roofing Supply, Inc. (BECN) traded up 0.23% during midday trading on Tuesday, reaching $52.08. The company had a trading volume of 206,402 shares. The firm has a 50-day moving average of $46.89 and a 200 day moving average of $47.96. Beacon Roofing Supply, Inc. has a 1-year low of $39.57 and a 1-year high of $52.59. The company has a market capitalization of $3.14 billion, a P/E ratio of 30.93 and a beta of 1.32.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. Beacon Roofing Supply’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. On average, equities research analysts forecast that Beacon Roofing Supply, Inc. will post $2.20 EPS for the current year.

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Beacon Roofing Supply 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.

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

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