Beacon Roofing Supply, Inc. (BECN) Shares Bought by DF Dent & Co. Inc.

DF Dent & Co. Inc. boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 233.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,190 shares of the company’s stock after purchasing an additional 10,635 shares during the period. DF Dent & Co. Inc.’s holdings in Beacon Roofing Supply were worth $744,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Beacon Roofing Supply by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 1,061,255 shares of the company’s stock worth $51,999,000 after purchasing an additional 22,749 shares during the last quarter. Vanguard Group Inc. boosted its position 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 purchasing an additional 246,233 shares during the last quarter. State Street Corp boosted its position in Beacon Roofing Supply by 2.4% in the first quarter. State Street Corp now owns 1,115,764 shares of the company’s stock worth $54,844,000 after purchasing an additional 26,202 shares during the last quarter. BlackRock Inc. boosted 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 worth $197,720,000 after purchasing an additional 4,016,982 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Beacon Roofing Supply by 20.2% in the first quarter. Fifth Third Bancorp now owns 3,934 shares of the company’s stock worth $193,000 after purchasing an additional 661 shares during the last quarter. 91.22% of the stock is currently owned by institutional investors and hedge funds.

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Beacon Roofing Supply, Inc. (NASDAQ BECN) traded down 0.200% during mid-day trading on Wednesday, hitting $52.295. The company had a trading volume of 109,666 shares. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 30.944 and a beta of 1.32. The firm’s 50 day moving average is $48.87 and its 200 day moving average is $48.10. Beacon Roofing Supply, Inc. has a 52 week low of $39.57 and a 52 week high of $53.11.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. Beacon Roofing Supply’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. On average, equities research analysts predict that Beacon Roofing Supply, Inc. will post $2.19 EPS for the current year.

Several research analysts have weighed in on the company. Royal Bank Of Canada reissued a “buy” rating and issued a $58.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, July 24th. BidaskClub cut Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Citigroup Inc. boosted their price objective on Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Finally, KeyCorp raised Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price objective on the stock in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $52.82.

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.

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

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