Beacon Roofing Supply, Inc. (BECN) Position Increased by Sapience Investments LLC
Sapience Investments LLC increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 391.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 468,045 shares of the company’s stock after purchasing an additional 372,745 shares during the period. Beacon Roofing Supply accounts for 2.6% of Sapience Investments LLC’s investment portfolio, making the stock its 5th largest holding. Sapience Investments LLC owned 0.69% of Beacon Roofing Supply worth $19,948,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of BECN. Soapstone Management L.P. acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth $8,524,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Beacon Roofing Supply by 8.1% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,983 shares of the company’s stock worth $980,000 after acquiring an additional 1,730 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth $755,000. Intrinsic Edge Capital Management LLC lifted its stake in shares of Beacon Roofing Supply by 119.5% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 189,852 shares of the company’s stock worth $8,091,000 after acquiring an additional 103,344 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth $1,065,000.
Shares of NASDAQ BECN traded down $0.38 during midday trading on Friday, hitting $38.69. The company had a trading volume of 2,260 shares, compared to its average volume of 1,086,994. The company has a quick ratio of 1.14, a current ratio of 2.07 and a debt-to-equity ratio of 1.63. Beacon Roofing Supply, Inc. has a twelve month low of $35.04 and a twelve month high of $66.47. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 0.72 and a beta of 1.14.
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 314,400 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was purchased at an average cost of $38.77 per share, for a total transaction of $12,189,288.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Philip Knisely bought 6,000 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were acquired at an average price of $37.14 per share, with a total value of $222,840.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at approximately $222,840. The disclosure for this purchase can be found here. Company insiders own 0.77% of the company’s stock.
Several analysts recently commented on BECN shares. Wedbush reiterated an “outperform” rating and issued a $50.00 price objective on shares of Beacon Roofing Supply in a research note on Thursday, August 23rd. Stephens set a $50.00 price objective on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research note on Tuesday, August 14th. Seaport Global Securities set a $52.00 price objective on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research note on Sunday, August 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, August 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Beacon Roofing Supply from $53.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, August 10th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.86.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.
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