Cambiar Investors LLC cut its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 31.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 229,782 shares of the company’s stock after selling 107,514 shares during the period. Cambiar Investors LLC owned about 0.34% of Beacon Roofing Supply worth $11,776,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. 1st Global Advisors Inc. grew its position in shares of Beacon Roofing Supply by 0.8% during the 2nd quarter. 1st Global Advisors Inc. now owns 9,836 shares of the company’s stock valued at $482,000 after acquiring an additional 76 shares during the period. Huntington National Bank grew its position in shares of Beacon Roofing Supply by 3.8% during the 2nd quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after acquiring an additional 116 shares during the period. Advisor Group Inc. grew its position in shares of Beacon Roofing Supply by 8.9% during the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock valued at $190,000 after acquiring an additional 316 shares during the period. Amalgamated Bank grew its position in shares of Beacon Roofing Supply by 5.1% during the 2nd quarter. Amalgamated Bank now owns 7,704 shares of the company’s stock valued at $377,000 after acquiring an additional 373 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in shares of Beacon Roofing Supply by 1.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 29,235 shares of the company’s stock valued at $1,433,000 after acquiring an additional 395 shares during the period. 92.50% of the stock is owned by hedge funds and other institutional investors.

Beacon Roofing Supply, Inc. (NASDAQ BECN) traded up $0.08 on Tuesday, hitting $54.95. 282,700 shares of the company’s stock traded hands, compared to its average volume of 494,427. Beacon Roofing Supply, Inc. has a twelve month low of $39.57 and a twelve month high of $56.36. The company has a market cap of $3,661.60, a P/E ratio of 25.88, a PEG ratio of 2.52 and a beta of 1.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.30 and a quick ratio of 1.36.

BECN has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. SunTrust Banks, Inc. reissued a “buy” rating on shares of Beacon Roofing Supply in a research report 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 for the company in a research report on Friday, August 25th. Robert W. Baird reissued a “buy” rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research report on Thursday, October 12th. Finally, KeyCorp reissued a “buy” rating and set a $56.00 price objective on shares of Beacon Roofing Supply in a research report on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $53.17.

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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.

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

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