ProShare Advisors LLC Reduces Position in Beacon Roofing Supply, Inc. (BECN)

ProShare Advisors LLC lessened its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,616 shares of the company’s stock after selling 1,565 shares during the period. ProShare Advisors LLC’s holdings in Beacon Roofing Supply were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Huntington National Bank grew its stake in Beacon Roofing Supply by 3.8% during the 2nd quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after acquiring an additional 116 shares in the last quarter. Amalgamated Bank grew its stake in Beacon Roofing Supply by 5.1% during the 2nd quarter. Amalgamated Bank now owns 7,704 shares of the company’s stock valued at $377,000 after acquiring an additional 373 shares in the last quarter. Bbva Compass Bancshares Inc. grew its stake in Beacon Roofing Supply by 8.3% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 6,448 shares of the company’s stock valued at $316,000 after acquiring an additional 495 shares in the last quarter. Aperio Group LLC grew its stake in Beacon Roofing Supply by 4.8% during the 2nd quarter. Aperio Group LLC now owns 12,060 shares of the company’s stock valued at $591,000 after acquiring an additional 547 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Beacon Roofing Supply by 36.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock valued at $103,000 after acquiring an additional 565 shares in the last quarter. 91.22% of the stock is owned by institutional investors.

Several analysts recently issued reports on BECN shares. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $58.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, July 24th. BidaskClub cut shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Jefferies Group LLC raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $54.00 in a research note on Friday, August 25th. Finally, KeyCorp raised shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price objective for the company in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $52.82.

Shares of Beacon Roofing Supply, Inc. (BECN) opened at 52.25 on Thursday. The stock has a 50 day moving average of $49.21 and a 200 day moving average of $48.13. Beacon Roofing Supply, Inc. has a 1-year low of $39.57 and a 1-year high of $53.11. The stock has a market cap of $3.15 billion, a PE ratio of 31.03 and a beta of 1.32.

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

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.com-unik.info/2017/10/12/proshare-advisors-llc-reduces-position-in-beacon-roofing-supply-inc-becn.html.

Beacon Roofing Supply Company Profile

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)

What are top analysts saying about Beacon Roofing Supply Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Beacon Roofing Supply Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit