Trexquant Investment LP Acquires Shares of 23,274 Beacon Roofing Supply, Inc. (BECN)

Trexquant Investment LP bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 23,274 shares of the company’s stock, valued at approximately $842,000.

A number of other institutional investors also recently made changes to their positions in the business. Rhumbline Advisers lifted its position in Beacon Roofing Supply by 2.2% during the second quarter. Rhumbline Advisers now owns 73,265 shares of the company’s stock valued at $3,123,000 after purchasing an additional 1,544 shares during the last quarter. Greenwood Capital Associates LLC lifted its position in Beacon Roofing Supply by 32.4% during the second quarter. Greenwood Capital Associates LLC now owns 6,599 shares of the company’s stock valued at $281,000 after purchasing an additional 1,613 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Beacon Roofing Supply by 8.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 22,983 shares of the company’s stock valued at $980,000 after purchasing an additional 1,730 shares during the last quarter. First Manhattan Co. lifted its position in Beacon Roofing Supply by 0.6% during the second quarter. First Manhattan Co. now owns 309,683 shares of the company’s stock valued at $13,198,000 after purchasing an additional 1,875 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Beacon Roofing Supply by 9.7% during the third quarter. Bank of Montreal Can now owns 22,671 shares of the company’s stock valued at $821,000 after purchasing an additional 2,004 shares during the last quarter.

BECN stock opened at $34.86 on Friday. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 0.58 and a beta of 1.44. Beacon Roofing Supply, Inc. has a one year low of $24.97 and a one year high of $66.47. The company has a current ratio of 1.59, a quick ratio of 0.97 and a debt-to-equity ratio of 1.38.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Monday, November 19th. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.29). The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Beacon Roofing Supply had a return on equity of 11.23% and a net margin of 1.54%. The company’s revenue was up 50.4% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. On average, analysts anticipate that Beacon Roofing Supply, Inc. will post 3.14 EPS for the current year.

In other news, EVP Christopher Anthony Harrison bought 4,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were bought at an average cost of $31.40 per share, with a total value of $149,150.00. Following the completion of the purchase, the executive vice president now directly owns 19,280 shares in the company, valued at $605,392. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard W. Frost bought 10,675 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The stock was purchased at an average cost of $31.61 per share, for a total transaction of $337,436.75. Following the completion of the purchase, the director now owns 22,495 shares of the company’s stock, valued at $711,066.95. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 23,625 shares of company stock worth $753,469. 0.77% of the stock is owned by insiders.

Several brokerages have issued reports on BECN. Longbow Research lowered shares of Beacon Roofing Supply from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Wednesday. BidaskClub upgraded shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research report on Wednesday. Stephens reiterated a “buy” rating and set a $40.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 23rd. Wells Fargo & Co upgraded shares of Beacon Roofing Supply from an “underperform” rating to a “market perform” rating and set a $32.00 target price for the company in a research report on Wednesday, November 21st. Finally, Jefferies Financial Group dropped their target price on shares of Beacon Roofing Supply from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, November 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $41.13.

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Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

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

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