Rhumbline Advisers Sells 146 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Rhumbline Advisers trimmed its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 99,344 shares of the company’s stock after selling 146 shares during the quarter. Rhumbline Advisers owned about 0.16% of Beacon Roofing Supply worth $10,091,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP lifted its position in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Blue Trust Inc. raised its stake 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 purchasing an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Beacon Roofing Supply during the third quarter worth about $28,000. Huntington National Bank grew its stake in Beacon Roofing Supply by 14.1% during the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after buying an additional 206 shares in the last quarter. Finally, KBC Group NV increased its holdings in Beacon Roofing Supply by 20.8% in the 3rd quarter. KBC Group NV now owns 1,728 shares of the company’s stock valued at $149,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BECN. Stephens reaffirmed an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Royal Bank of Canada lifted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets upped their price objective on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $120.17.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $115.42 on Tuesday. The business has a 50 day moving average of $111.50 and a 200-day moving average of $100.73. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $121.42. The company has a market capitalization of $7.11 billion, a P/E ratio of 19.73 and a beta of 1.62.

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.