Sei Investments Co. Grows Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Sei Investments Co. grew its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 316,121 shares of the company’s stock after purchasing an additional 3,469 shares during the quarter. Sei Investments Co.’s holdings in Beacon Roofing Supply were worth $32,112,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake in shares of Beacon Roofing Supply by 556.1% in the 4th quarter. Teacher Retirement System of Texas now owns 23,888 shares of the company’s stock worth $2,427,000 after buying an additional 20,247 shares during the last quarter. Xponance Inc. lifted its holdings in Beacon Roofing Supply by 5.3% during the fourth quarter. Xponance Inc. now owns 5,016 shares of the company’s stock worth $510,000 after acquiring an additional 251 shares during the period. Boston Partners boosted its position in Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock worth $462,417,000 after purchasing an additional 59,630 shares during the last quarter. Intech Investment Management LLC grew its stake in Beacon Roofing Supply by 43.3% in the 4th quarter. Intech Investment Management LLC now owns 23,893 shares of the company’s stock valued at $2,427,000 after purchasing an additional 7,224 shares during the period. Finally, RD Lewis Holdings Inc. purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $1,185,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BECN. BMO Capital Markets cut their price target on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Baird R W downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Trading Down 0.0 %

Shares of BECN stock opened at $123.80 on Wednesday. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63. The company’s fifty day simple moving average is $117.72 and its two-hundred day simple moving average is $105.01. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $123.90. 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 (NASDAQ:BECN) last released 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). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. As a group, analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

About Beacon Roofing Supply

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.