Principal Financial Group Inc. Has $525,000 Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Principal Financial Group Inc. reduced its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,170 shares of the company’s stock after selling 650 shares during the period. Principal Financial Group Inc.’s holdings in Beacon Roofing Supply were worth $525,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC raised its position in Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after buying an additional 963,633 shares during the last quarter. State Street Corp boosted its holdings in Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after acquiring an additional 15,505 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Beacon Roofing Supply by 0.3% in the third quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock valued at $85,887,000 after purchasing an additional 2,607 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Beacon Roofing Supply by 2.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company’s stock valued at $100,076,000 after purchasing an additional 22,122 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Beacon Roofing Supply by 1,449.0% during the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after purchasing an additional 575,852 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BECN. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday. StockNews.com began coverage on Beacon Roofing Supply in a research report on Saturday, March 1st. They issued a “sell” rating on the stock. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Finally, Stephens reiterated an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $119.95.

Beacon Roofing Supply Stock Down 1.6 %

Shares of NASDAQ BECN opened at $112.03 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock has a market capitalization of $6.90 billion, a PE ratio of 19.15 and a beta of 1.63. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $121.42. The business’s fifty day moving average price is $113.25 and its 200-day moving average price is $102.03.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

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.