Principal Financial Group Inc. lifted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,281 shares of the company’s stock after buying an additional 1,660 shares during the quarter. Principal Financial Group Inc. owned about 0.05% of Beacon Roofing Supply worth $1,582,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Beacon Roofing Supply in the second quarter valued at about $100,000. Advisors Asset Management Inc. raised its holdings 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 valued at $103,000 after buying an additional 565 shares during the last quarter. Huntington National Bank raised its holdings 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 valued at $154,000 after buying an additional 116 shares during the last quarter. Lloyds Banking Group plc raised its holdings 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 valued at $180,000 after buying an additional 1,012 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Beacon Roofing Supply by 20.2% in the first quarter. Fifth Third Bancorp now owns 3,934 shares of the company’s stock valued at $193,000 after buying an additional 661 shares during the last quarter. 91.22% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply, Inc. (BECN) opened at 52.60 on Monday. The company has a 50 day moving average price of $48.17 and a 200-day moving average price of $48.06. The company has a market capitalization of $3.18 billion, a PE ratio of 31.24 and a beta of 1.32. Beacon Roofing Supply, Inc. has a 12-month low of $39.57 and a 12-month high of $53.11.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.06). Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Beacon Roofing Supply, Inc. will post $2.19 EPS for the current year.

A number of research firms recently issued reports on BECN. Zacks Investment Research raised Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price target for the company in a report on Tuesday, October 3rd. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a report on Monday, October 2nd. KeyCorp reaffirmed a “buy” rating and issued a $56.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, September 12th. Citigroup Inc. lifted their price target on Beacon Roofing Supply from $48.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, August 28th. Finally, BidaskClub cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $52.55.

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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.

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

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