Beacon Roofing Supply, Inc. (NASDAQ:BECN) Position Reduced by Federated Hermes Inc.

Federated Hermes Inc. cut its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,282 shares of the company’s stock after selling 1,766 shares during the quarter. Federated Hermes Inc. owned 0.14% of Beacon Roofing Supply worth $7,595,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Beacon Roofing Supply by 19.3% in the third quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock worth $434,118,000 after purchasing an additional 909,819 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Beacon Roofing Supply by 4,518.3% in the third quarter. Acadian Asset Management LLC now owns 356,902 shares of the company’s stock worth $27,527,000 after purchasing an additional 349,174 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Beacon Roofing Supply by 9.3% in the third quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock worth $211,017,000 after purchasing an additional 233,393 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Beacon Roofing Supply in the third quarter worth approximately $6,442,000. Finally, Boston Partners lifted its position in shares of Beacon Roofing Supply by 19.4% in the third quarter. Boston Partners now owns 435,029 shares of the company’s stock worth $33,250,000 after purchasing an additional 70,554 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BECN. TheStreet raised shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Loop Capital increased their price objective on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. StockNews.com upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price objective on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. Finally, Benchmark started coverage on Beacon Roofing Supply in a report on Thursday, April 18th. They issued a “buy” rating and a $135.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

Insider Transactions at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at $1,000,445. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at $1,000,445. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at $16,521.12. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Beacon Roofing Supply Trading Down 0.3 %

Shares of BECN stock opened at $97.21 on Thursday. Beacon Roofing Supply, Inc. has a 12 month low of $56.94 and a 12 month high of $102.83. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $91.91 and its two-hundred day moving average is $84.82. The company has a market cap of $6.17 billion, a PE ratio of -206.83 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business earned $1.18 EPS. Equities analysts predict that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current year.

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.