Algert Global LLC Has $12.26 Million Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Algert Global LLC lifted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 135,510 shares of the company’s stock after acquiring an additional 7,087 shares during the period. Beacon Roofing Supply comprises about 0.4% of Algert Global LLC’s holdings, making the stock its 15th biggest position. Algert Global LLC’s holdings in Beacon Roofing Supply were worth $12,264,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BECN. TFO Wealth Partners LLC raised its holdings in shares of Beacon Roofing Supply by 132,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,978 shares of the company’s stock worth $346,000 after buying an additional 3,975 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Beacon Roofing Supply by 2.4% during the 4th quarter. Eagle Asset Management Inc. now owns 156,284 shares of the company’s stock worth $13,600,000 after buying an additional 3,591 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Beacon Roofing Supply by 40.0% during the 4th quarter. Rafferty Asset Management LLC now owns 17,877 shares of the company’s stock worth $1,556,000 after buying an additional 5,108 shares in the last quarter. Quantedge Capital Pte Ltd acquired a new position in shares of Beacon Roofing Supply during the 4th quarter worth $2,498,000. Finally, Vinva Investment Management Ltd bought a new stake in Beacon Roofing Supply during the 4th quarter worth $242,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird reduced their price objective on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Stephens reduced their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.30.

Insider Activity at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 1,627 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total transaction of $138,295.00. Following the transaction, the executive vice president now directly owns 320 shares of the company’s stock, valued at approximately $27,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Prithvi Gandhi acquired 5,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $82.29 per share, with a total value of $411,450.00. Following the completion of the purchase, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $411,450. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the completion of the sale, the executive vice president now directly owns 320 shares of the company’s stock, valued at $27,200. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Beacon Roofing Supply Trading Up 0.2 %

NASDAQ BECN opened at $87.72 on Friday. The business’s 50-day moving average price is $87.97 and its two-hundred day moving average price is $92.75. Beacon Roofing Supply, Inc. has a 12 month low of $68.50 and a 12 month high of $105.42. The firm has a market capitalization of $5.58 billion, a PE ratio of -139.24 and a beta of 1.55. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the firm posted $2.66 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts expect that Beacon Roofing Supply, Inc. will post 7.39 EPS for the current year.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.