Wells Fargo & Company MN decreased its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,852 shares of the company’s stock after selling 25,086 shares during the period. Wells Fargo & Company MN owned approximately 0.35% of Beacon Roofing Supply worth $8,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BECN. Hardy Reed LLC bought a new stake in Beacon Roofing Supply during the second quarter worth about $84,000. Strs Ohio boosted its stake in Beacon Roofing Supply by 65.0% during the second quarter. Strs Ohio now owns 3,300 shares of the company’s stock worth $121,000 after acquiring an additional 1,300 shares in the last quarter. We Are One Seven LLC bought a new stake in Beacon Roofing Supply during the second quarter worth about $200,000. Sigma Planning Corp bought a new stake in Beacon Roofing Supply during the second quarter worth about $245,000. Finally, GSA Capital Partners LLP bought a new stake in Beacon Roofing Supply during the second quarter worth about $254,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Roofing Supply stock traded down $0.03 during trading hours on Friday, hitting $35.04. The stock had a trading volume of 5,810 shares, compared to its average volume of 624,958. The company has a quick ratio of 1.17, a current ratio of 2.07 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $2.30 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.32 and a beta of 1.44. Beacon Roofing Supply, Inc. has a 12-month low of $24.97 and a 12-month high of $41.34. The stock’s 50-day moving average price is $32.39 and its 200-day moving average price is $35.03.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Tuesday, August 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.32). The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Beacon Roofing Supply had a return on equity of 9.63% and a net margin of 0.15%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $1.18 earnings per share. On average, research analysts expect that Beacon Roofing Supply, Inc. will post 2.48 EPS for the current fiscal year.

In related news, major shareholder Cd&R Investment Associates Ix, acquired 4,625,998 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $34.17 per share, with a total value of $158,070,351.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Several equities research analysts recently commented on the stock. SunTrust Banks set a $40.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Wednesday, August 7th. BidaskClub raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Thursday. Raymond James set a $38.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Stephens set a $37.00 target price on shares of Beacon Roofing Supply and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $33.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.93.

Beacon Roofing Supply Company Profile

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 solar systems.

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

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