233,572 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Bought by Blue Grotto Capital LLC

Blue Grotto Capital LLC bought a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 233,572 shares of the company’s stock, valued at approximately $23,726,000. Beacon Roofing Supply makes up about 4.3% of Blue Grotto Capital LLC’s investment portfolio, making the stock its 10th largest holding.

Several other large investors have also recently bought and sold shares of the company. Quarry LP increased its stake in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at $31,000. PNC Financial Services Group Inc. raised its stake in shares of Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after acquiring an additional 163 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after purchasing an additional 196 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Down 0.0 %

Beacon Roofing Supply stock opened at $123.80 on Wednesday. The company has a market capitalization of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $123.90. The firm’s fifty day moving average is $117.72 and its 200 day moving average is $105.01. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data 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 company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

BECN has been the subject of several analyst reports. Baird R W lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Loop Capital reiterated a “hold” rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st. Raymond James downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply has an average rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply 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.