Assenagon Asset Management S.A. Has $18.11 Million Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Assenagon Asset Management S.A. boosted its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 12.3% in the third quarter, HoldingsChannel.com reports. The firm owned 209,547 shares of the company’s stock after buying an additional 22,971 shares during the period. Assenagon Asset Management S.A.’s holdings in Beacon Roofing Supply were worth $18,111,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BECN. Allspring Global Investments Holdings LLC acquired a new stake in shares of Beacon Roofing Supply in the first quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after purchasing an additional 203 shares during the period. GAMMA Investing LLC raised its holdings in Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after purchasing an additional 445 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in shares of Beacon Roofing Supply by 66.7% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after purchasing an additional 500 shares during the period. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock opened at $93.36 on Friday. The business has a 50-day simple moving average of $88.32 and a 200 day simple moving average of $92.29. Beacon Roofing Supply, Inc. has a one year low of $68.50 and a one year high of $105.42. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of -148.19 and a beta of 1.55.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). The firm 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.66 earnings per share. On average, research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.37 earnings per share for the current fiscal year.

Insider Activity

In other Beacon Roofing Supply news, CFO Prithvi Gandhi bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $411,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the sale, the insider now directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Prithvi Gandhi acquired 5,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the completion of the purchase, the chief financial officer now owns 5,000 shares in the company, valued at approximately $411,450. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

BECN has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Robert W. Baird increased their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Stephens dropped 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 note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Beacon Roofing Supply Company 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.