Xponance Inc. Has $451,000 Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Xponance Inc. lifted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 23.0% during the second quarter, HoldingsChannel reports. The firm owned 4,981 shares of the company’s stock after purchasing an additional 931 shares during the period. Xponance Inc.’s holdings in Beacon Roofing Supply were worth $451,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Beacon Roofing Supply by 14.1% in the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after buying an additional 872,216 shares during the period. Boston Partners raised its stake in Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after purchasing an additional 569,627 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in shares of Beacon Roofing Supply during the fourth quarter valued at about $33,416,000. Jupiter Asset Management Ltd. lifted its stake in shares of Beacon Roofing Supply by 1,293.8% in the first quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock valued at $39,150,000 after buying an additional 370,756 shares during the period. Finally, Zimmer Partners LP bought a new stake in shares of Beacon Roofing Supply in the first quarter valued at about $35,777,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Down 1.5 %

Shares of NASDAQ:BECN opened at $86.43 on Tuesday. The company has a market capitalization of $5.50 billion, a PE ratio of -137.19 and a beta of 1.55. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90. The company’s fifty day moving average is $87.97 and its 200-day moving average is $92.84. Beacon Roofing Supply, Inc. has a 52 week low of $68.50 and a 52 week high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. Beacon Roofing Supply’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.66 earnings per share. Equities research analysts predict that Beacon Roofing Supply, Inc. will post 7.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BECN shares. Royal Bank of Canada cut their price target on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Robert W. Baird cut their target price on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Stephens decreased their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.30.

Insiders Place Their Bets

In related news, CFO Prithvi Gandhi acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired 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 $411,450. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Beacon Roofing Supply news, CFO Prithvi Gandhi acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $82.29 per share, with a total value of $411,450.00. Following the purchase, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $411,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Carl Nelson sold 1,627 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total value of $138,295.00. Following the completion of the transaction, 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. Company insiders own 1.30% of the company’s stock.

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.