First Manhattan Co. Has $16.28 Million Position in Beacon Roofing Supply, Inc. (BECN)

First Manhattan Co. reduced its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 317,583 shares of the company’s stock after selling 4,425 shares during the quarter. First Manhattan Co. owned approximately 0.53% of Beacon Roofing Supply worth $16,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Personal Capital Advisors Corp lifted its stake in shares of Beacon Roofing Supply by 77.0% during the 3rd quarter. Personal Capital Advisors Corp now owns 19,375 shares of the company’s stock worth $993,000 after purchasing an additional 8,431 shares during the last quarter. Strs Ohio lifted its stake in shares of Beacon Roofing Supply by 10.0% during the 3rd quarter. Strs Ohio now owns 105,700 shares of the company’s stock worth $5,417,000 after purchasing an additional 9,600 shares during the last quarter. Skylands Capital LLC lifted its stake in shares of Beacon Roofing Supply by 1,144.0% during the 3rd quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock worth $10,583,000 after purchasing an additional 189,900 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Beacon Roofing Supply by 0.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,686,777 shares of the company’s stock worth $86,447,000 after purchasing an additional 13,327 shares during the last quarter. Finally, Arcadia Investment Management Corp MI lifted its stake in shares of Beacon Roofing Supply by 1.5% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 119,350 shares of the company’s stock worth $6,117,000 after purchasing an additional 1,740 shares during the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) opened at 55.41 on Wednesday. The stock has a market capitalization of $3.35 billion, a PE ratio of 32.90 and a beta of 1.32. Beacon Roofing Supply, Inc. has a 1-year low of $39.57 and a 1-year high of $56.36. The firm has a 50-day moving average price of $51.97 and a 200-day moving average price of $48.66.

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

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A number of brokerages recently weighed in on BECN. Wells Fargo & Company began coverage on Beacon Roofing Supply in a research note on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price objective for the company. KeyCorp restated a “buy” rating and set a $56.00 price objective on shares of Beacon Roofing Supply in a research note on Sunday, October 15th. Robert W. Baird restated a “buy” rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research note on Thursday, October 12th. Royal Bank Of Canada restated a “buy” rating and set a $53.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, October 10th. Finally, Zacks Investment Research upgraded Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price objective for the company in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $53.17.

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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