Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock Position Decreased by JPMorgan Chase & Co.
JPMorgan Chase & Co. cut its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 776,604 shares of the company’s stock after selling 72,488 shares during the quarter. JPMorgan Chase & Co. owned 1.23% of Beacon Roofing Supply worth $64,443,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Laurel Wealth Advisors Inc. raised its holdings in Beacon Roofing Supply by 2.9% during the fourth quarter. Laurel Wealth Advisors Inc. now owns 5,940 shares of the company’s stock valued at $314,000 after buying an additional 166 shares in the last quarter. First Manhattan Co. increased its stake in shares of Beacon Roofing Supply by 4.3% in the first quarter. First Manhattan Co. now owns 5,633 shares of the company’s stock worth $333,000 after purchasing an additional 233 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Beacon Roofing Supply by 5.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,441 shares of the company’s stock worth $369,000 after purchasing an additional 239 shares during the period. AlphaCrest Capital Management LLC increased its stake in shares of Beacon Roofing Supply by 4.0% in the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock worth $419,000 after purchasing an additional 273 shares during the period. Finally, Advisor Group Holdings Inc. increased its stake in shares of Beacon Roofing Supply by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares during the period.
Insider Buying and Selling at Beacon Roofing Supply
In related news, major shareholder Cd&R Investment Associates Ix, acquired 46,170 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were bought at an average cost of $63.59 per share, with a total value of $2,935,950.30. Following the completion of the acquisition, the insider now owns 10,218,134 shares of the company’s stock, valued at $649,771,141.06. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Cd&R Investment Associates Ix, bought 46,170 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was bought at an average price of $63.59 per share, for a total transaction of $2,935,950.30. Following the completion of the purchase, the insider now owns 10,218,134 shares of the company’s stock, valued at approximately $649,771,141.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason L. Taylor sold 2,152 shares of Beacon Roofing Supply stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $78.19, for a total transaction of $168,264.88. Following the completion of the transaction, the insider now owns 8,689 shares of the company’s stock, valued at approximately $679,392.91. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Stock Up 3.2 %
NASDAQ BECN opened at $82.90 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.05 and a debt-to-equity ratio of 1.43. The stock’s 50 day moving average is $75.94 and its two-hundred day moving average is $77.30. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of -78.21, a PEG ratio of 1.45 and a beta of 1.62. Beacon Roofing Supply, Inc. has a 1-year low of $50.42 and a 1-year high of $87.46.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.31. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.59 billion. Beacon Roofing Supply had a return on equity of 25.71% and a net margin of 4.67%. Equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.37 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on BECN shares. Truist Financial dropped their price objective on Beacon Roofing Supply from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, October 17th. Jefferies Financial Group dropped their price objective on Beacon Roofing Supply from $92.00 to $89.00 in a research note on Thursday, October 12th. Raymond James lifted their price objective on Beacon Roofing Supply from $75.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. StockNews.com downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Finally, Royal Bank of Canada raised Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $91.00 to $94.00 in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.40.
View Our Latest Stock Report on Beacon Roofing Supply
Beacon Roofing Supply Company Profile (Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.
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