First Trust Advisors LP trimmed its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 30.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,246 shares of the company’s stock after selling 10,891 shares during the period. First Trust Advisors LP’s holdings in Beacon Roofing Supply were worth $1,294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Beacon Roofing Supply by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,892,191 shares of the company’s stock worth $239,718,000 after buying an additional 46,661 shares during the last quarter. BlackRock Inc. grew its stake in Beacon Roofing Supply by 1.2% during the 2nd quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock worth $199,416,000 after buying an additional 47,779 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Beacon Roofing Supply by 10.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock worth $91,807,000 after buying an additional 176,659 shares during the last quarter. Fisher Asset Management LLC grew its stake in Beacon Roofing Supply by 0.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,686,777 shares of the company’s stock worth $86,447,000 after buying an additional 13,327 shares during the last quarter. Finally, State Street Corp grew its stake in Beacon Roofing Supply by 6.8% during the 2nd quarter. State Street Corp now owns 1,191,496 shares of the company’s stock worth $58,385,000 after buying an additional 75,732 shares during the last quarter.

Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) opened at $63.59 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06. The firm has a market capitalization of $4,340.42, a PE ratio of 29.53, a price-to-earnings-growth ratio of 0.83 and a beta of 1.48. Beacon Roofing Supply, Inc. has a one year low of $39.57 and a one year high of $64.45.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Monday, November 20th. The company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. equities research analysts forecast that Beacon Roofing Supply, Inc. will post 3.08 earnings per share for the current year.

Several research analysts recently weighed in on BECN shares. Citigroup boosted their target price on Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. KeyCorp upgraded Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a research note on Friday, August 25th. SunTrust Banks restated a “buy” rating and set a $55.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 10th. Wells Fargo & Company started coverage on Beacon Roofing Supply in a research note on Wednesday, October 18th. They set a “market perform” rating and a $58.00 target price on the stock. Finally, Zacks Investment Research upgraded Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 target price on the stock in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Beacon Roofing Supply currently has an average rating of “Buy” and a consensus price target of $56.58.

In other Beacon Roofing Supply news, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the sale, the chief executive officer now owns 172,046 shares in the company, valued at approximately $10,420,826.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total value of $119,500.00. Following the sale, the executive vice president now owns 7,056 shares in the company, valued at approximately $421,596. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

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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.

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

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