Northern Trust Corp Increases Holdings in Beacon Roofing Supply, Inc. (BECN)

Northern Trust Corp grew its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,156,301 shares of the company’s stock after buying an additional 31,907 shares during the period. Northern Trust Corp owned approximately 1.70% of Beacon Roofing Supply worth $36,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Strs Ohio lifted its holdings in Beacon Roofing Supply by 42.1% during the 4th quarter. Strs Ohio now owns 2,700 shares of the company’s stock valued at $85,000 after buying an additional 800 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Beacon Roofing Supply by 0.5% in the 4th quarter. Eagle Asset Management Inc. now owns 199,720 shares of the company’s stock valued at $6,335,000 after purchasing an additional 917 shares in the last quarter. Csenge Advisory Group bought a new stake in shares of Beacon Roofing Supply in the 3rd quarter valued at about $27,000. First Personal Financial Services bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $33,000. Finally, IFP Advisors Inc raised its holdings in shares of Beacon Roofing Supply by 107.6% in the 4th quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock valued at $65,000 after purchasing an additional 1,076 shares in the last quarter.

Several research firms have recently commented on BECN. BidaskClub lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. ValuEngine lowered shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Monday, March 11th. Buckingham Research assumed coverage on shares of Beacon Roofing Supply in a research note on Monday, February 25th. They set a “neutral” rating and a $38.00 price objective for the company. Royal Bank of Canada set a $37.00 price objective on shares of Beacon Roofing Supply and gave the stock a “hold” rating in a research note on Friday, February 8th. Finally, Raymond James set a $45.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.29.

NASDAQ:BECN opened at $33.32 on Monday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 0.51 and a beta of 1.44. Beacon Roofing Supply, Inc. has a twelve month low of $24.97 and a twelve month high of $55.01. The company has a current ratio of 2.43, a quick ratio of 1.35 and a debt-to-equity ratio of 1.61.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 7th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.66 billion. Beacon Roofing Supply had a net margin of 0.43% and a return on equity of 11.19%. Beacon Roofing Supply’s revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post 3.13 earnings per share for the current year.

In related news, major shareholder Cd&R Investment Associates Ix, bought 5,609,763 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $33.31 per share, with a total value of $186,861,205.53. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

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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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