Sendero Wealth Management LLC Has $543,000 Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Sendero Wealth Management LLC cut its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 19.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,288 shares of the company’s stock after selling 1,565 shares during the quarter. Sendero Wealth Management LLC’s holdings in Beacon Roofing Supply were worth $543,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Beacon Roofing Supply by 14.1% in the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after acquiring an additional 872,216 shares during the period. Boston Partners grew its position in shares of Beacon Roofing Supply by 79.6% in 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 period. Driehaus Capital Management LLC acquired a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $39,606,000. Jupiter Asset Management Ltd. increased its stake in Beacon Roofing Supply by 1,293.8% during the 1st quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock worth $39,150,000 after purchasing an additional 370,756 shares in the last quarter. Finally, Zimmer Partners LP acquired a new stake in Beacon Roofing Supply during the 1st quarter worth approximately $35,777,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Beacon Roofing Supply Stock Down 3.5 %

NASDAQ BECN traded down $3.30 during trading hours on Thursday, hitting $91.19. 379,811 shares of the company traded hands, compared to its average volume of 715,916. 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 business’s 50-day moving average is $86.37 and its 200-day moving average is $92.73. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of -143.98 and a beta of 1.55. Beacon Roofing Supply, Inc. has a twelve month low of $68.50 and a twelve month high of $105.42.

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

Analyst Upgrades and Downgrades

BECN has been the subject of several research analyst reports. Royal Bank of Canada lowered 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. Stephens dropped their price target 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. Finally, Robert W. Baird cut their price target on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Three investment 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, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.30.

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.