American Century Companies Inc. Cuts Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

American Century Companies Inc. lowered its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,857,790 shares of the company’s stock after selling 382,892 shares during the period. American Century Companies Inc.’s holdings in Beacon Roofing Supply were worth $290,294,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after buying an additional 963,633 shares during the period. Boston Partners increased its stake in shares of Beacon Roofing Supply by 1.3% during the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock valued at $462,417,000 after buying an additional 59,630 shares during the period. State Street Corp increased its stake in shares of Beacon Roofing Supply by 1.1% during the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock valued at $127,182,000 after buying an additional 15,505 shares during the period. Fisher Asset Management LLC increased its stake in shares of Beacon Roofing Supply by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock valued at $103,011,000 after buying an additional 20,372 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Beacon Roofing Supply by 2.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company’s stock valued at $100,076,000 after buying an additional 22,122 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $123.77 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The company has a market cap of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. The business has a 50-day simple moving average of $117.35 and a two-hundred day simple moving average of $104.46. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $123.90.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BECN. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday. Robert W. Baird lifted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Loop Capital reiterated a “hold” rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday. Finally, Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their target price for the company from $131.00 to $122.55 in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $120.95.

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.