Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,101 shares of the company’s stock after selling 3,291 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Beacon Roofing Supply worth $11,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP increased its position in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply during the fourth quarter worth about $31,000. PNC Financial Services Group Inc. raised its position in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after acquiring an additional 163 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after acquiring an additional 150 shares during the last quarter. Finally, Principal Securities Inc. lifted 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 acquiring an additional 196 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

BECN stock opened at $122.43 on Friday. The firm has a 50 day simple moving average of $119.17 and a 200 day simple moving average of $107.31. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $123.90. The stock has a market cap of $7.56 billion, a P/E ratio of 20.93 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on BECN. Loop Capital reissued a “hold” rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday, March 21st. StockNews.com assumed coverage on Beacon Roofing Supply in a research report on Wednesday. They set a “sell” rating for the company. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Royal Bank of Canada downgraded Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $124.35 in a report on Wednesday. Finally, Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price target for the company from $131.00 to $122.55 in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus target price of $122.10.

About Beacon Roofing Supply

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.