Essex Investment Management Co. LLC Sells 1,623 Shares of Beacon Roofing Supply, Inc. (BECN)

Essex Investment Management Co. LLC decreased its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,058 shares of the company’s stock after selling 1,623 shares during the period. Essex Investment Management Co. LLC owned 0.06% of Beacon Roofing Supply worth $1,816,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Beacon Roofing Supply by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,845,530 shares of the company’s stock worth $238,207,000 after buying an additional 246,233 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in Beacon Roofing Supply by 2.4% in the first quarter. Frontier Capital Management Co. LLC now owns 4,312,112 shares of the company’s stock valued at $211,983,000 after buying an additional 101,046 shares during the period. BlackRock Inc. increased its position in Beacon Roofing Supply by 80,484.5% in the first quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock valued at $197,720,000 after buying an additional 4,016,982 shares during the period. Dimensional Fund Advisors LP increased its position in Beacon Roofing Supply by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,409,749 shares of the company’s stock valued at $118,462,000 after buying an additional 113,306 shares during the period. Finally, Aberdeen Asset Management PLC UK increased its position in Beacon Roofing Supply by 6.1% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,794,682 shares of the company’s stock valued at $88,226,000 after buying an additional 103,557 shares during the period.

Shares of Beacon Roofing Supply, Inc. (BECN) opened at 40.31 on Friday. The firm’s 50-day moving average price is $45.70 and its 200-day moving average price is $47.53. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 23.94 and a beta of 1.32. Beacon Roofing Supply, Inc. has a 52 week low of $39.50 and a 52 week high of $52.12.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.90 by $0.06. Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the firm posted $0.77 EPS. Beacon Roofing Supply’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts expect that Beacon Roofing Supply, Inc. will post $2.20 EPS for the current fiscal year.

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BECN has been the topic of several recent analyst reports. Citigroup Inc. reiterated a “buy” rating and set a $52.00 target price (up from $48.00) on shares of Beacon Roofing Supply in a research report on Thursday, May 11th. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, July 5th. Royal Bank Of Canada restated a “buy” rating and issued a $58.00 price objective on shares of Beacon Roofing Supply in a report on Monday, July 24th. Wedbush restated a “neutral” rating and issued a $47.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. Finally, BidaskClub downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Beacon Roofing Supply currently has a consensus rating of “Hold” and an average price target of $50.50.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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