Balter Liquid Alternatives LLC Purchases New Position in Beacon Roofing Supply, Inc. (BECN)

Balter Liquid Alternatives LLC purchased a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 6,122 shares of the company’s stock, valued at approximately $390,000.

A number of other hedge funds have also recently made changes to their positions in BECN. Jennison Associates LLC lifted its stake in Beacon Roofing Supply by 502.2% in the third quarter. Jennison Associates LLC now owns 1,683,096 shares of the company’s stock valued at $86,259,000 after acquiring an additional 1,403,608 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in Beacon Roofing Supply by 108.4% in the third quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock valued at $121,053,000 after acquiring an additional 1,228,625 shares during the last quarter. Bamco Inc. NY acquired a new stake in Beacon Roofing Supply in the third quarter valued at $61,982,000. Stephens Investment Management Group LLC acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth about $32,333,000. Finally, Davidson Kempner Capital Management LP acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth about $25,625,000.

In related news, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $119,500.00. Following the transaction, the executive vice president now directly owns 7,056 shares of the company’s stock, valued at $421,596. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at $10,420,826.22. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.

A number of analysts have recently issued reports on the stock. BidaskClub cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Jefferies Group restated a “buy” rating and set a $73.00 target price on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. Zacks Investment Research cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 22nd. Royal Bank of Canada set a $66.00 target price on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Friday. Finally, Robert W. Baird restated an “outperform” rating and set a $70.00 target price (up previously from $55.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $59.91.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) opened at $55.07 on Monday. Beacon Roofing Supply, Inc. has a 1 year low of $39.57 and a 1 year high of $66.47. The company has a market cap of $3,743.05, a PE ratio of 24.15, a P/E/G ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.14. Beacon Roofing Supply had a net margin of 3.29% and a return on equity of 10.15%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm earned $0.56 earnings per share. Beacon Roofing Supply’s revenue for the quarter was up 12.0% compared to the same quarter last year. analysts anticipate that Beacon Roofing Supply, Inc. will post 3.57 EPS for the current year.

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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.

Want to see what other hedge funds are holding BECN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beacon Roofing Supply, Inc. (NASDAQ:BECN).

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

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