Legal & General Group Plc Boosts Stake in Beacon Roofing Supply, Inc. (BECN)

Legal & General Group Plc increased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 13.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 46,477 shares of the company’s stock after purchasing an additional 5,360 shares during the period. Legal & General Group Plc owned 0.07% of Beacon Roofing Supply worth $1,474,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SHANDA ASSET MANAGEMENT HOLDINGS Ltd acquired a new position in Beacon Roofing Supply in the 4th quarter valued at about $2,069,000. Vanguard Group Inc. increased its position in Beacon Roofing Supply by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,993,864 shares of the company’s stock worth $216,918,000 after purchasing an additional 96,227 shares during the period. Personal Capital Advisors Corp increased its position in Beacon Roofing Supply by 69.1% during the 4th quarter. Personal Capital Advisors Corp now owns 63,630 shares of the company’s stock worth $2,018,000 after purchasing an additional 25,994 shares during the period. Victory Capital Management Inc. acquired a new position in Beacon Roofing Supply during the 4th quarter worth approximately $25,887,000. Finally, Strs Ohio increased its position in Beacon Roofing Supply by 42.1% during the 4th quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $85,000 after purchasing an additional 800 shares during the period.

In related news, major shareholder Cd&R Investment Associates Ix, bought 5,609,763 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $33.31 per share, with a total value of $186,861,205.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by insiders.

Shares of NASDAQ:BECN opened at $38.80 on Monday. The company has a market cap of $2.66 billion, a PE ratio of 14.37, a PEG ratio of 0.64 and a beta of 1.42. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.35 and a current ratio of 2.43. Beacon Roofing Supply, Inc. has a 12 month low of $24.97 and a 12 month high of $52.29.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, February 7th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. Beacon Roofing Supply had a return on equity of 11.19% and a net margin of 0.43%. The company’s quarterly revenue was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 EPS. Analysts expect that Beacon Roofing Supply, Inc. will post 2.9 EPS for the current fiscal year.

BECN has been the topic of several recent analyst reports. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Monday, February 4th. Buckingham Research dropped their target price on Beacon Roofing Supply from $38.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 26th. Royal Bank of Canada set a $35.00 target price on Beacon Roofing Supply and gave the stock a “hold” rating in a research report on Tuesday, March 26th. BidaskClub cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. Finally, ValuEngine cut Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $40.12.

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Beacon Roofing Supply 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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