Los Angeles Capital Management LLC Sells 7,222 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Los Angeles Capital Management LLC trimmed its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 26.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,449 shares of the company’s stock after selling 7,222 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Beacon Roofing Supply were worth $2,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in Beacon Roofing Supply in the 4th quarter worth about $171,000. Truist Financial Corp grew its holdings in shares of Beacon Roofing Supply by 15.4% during the fourth quarter. Truist Financial Corp now owns 3,590 shares of the company’s stock worth $365,000 after purchasing an additional 480 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $204,000. Principal Securities Inc. raised its holdings in Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after buying an additional 196 shares during the last quarter. Finally, Equitable Trust Co. boosted its position in Beacon Roofing Supply by 1.7% during the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after buying an additional 122 shares during the period. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 0.1 %

Shares of Beacon Roofing Supply stock opened at $115.42 on Friday. The stock’s 50-day moving average is $112.29 and its 200 day moving average is $101.15. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $121.42. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 19.73 and a beta of 1.62. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

BECN has been the subject of several recent research reports. Stephens restated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets raised their price objective on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $120.62.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the 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. The company 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.