TD Asset Management Inc Boosts Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

TD Asset Management Inc raised its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 19.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,800 shares of the company’s stock after purchasing an additional 6,600 shares during the quarter. TD Asset Management Inc owned 0.06% of Beacon Roofing Supply worth $2,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BECN. Advisor Group Holdings Inc. raised its position in Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares during the period. Raymond James & Associates raised its position in Beacon Roofing Supply by 11.6% in the 1st quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock worth $797,000 after purchasing an additional 1,397 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Beacon Roofing Supply during the first quarter worth approximately $317,000. AlphaCrest Capital Management LLC raised its stake in shares of Beacon Roofing Supply by 4.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock valued at $419,000 after acquiring an additional 273 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Beacon Roofing Supply by 27.0% during the first quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock valued at $665,000 after acquiring an additional 2,267 shares in the last quarter.

Insiders Place Their Bets

In other news, major shareholder Cd&R Investment Associates Ix, purchased 99,880 shares of the business’s stock in a transaction on Friday, April 28th. The shares were acquired at an average cost of $60.07 per share, with a total value of $5,999,791.60. Following the completion of the acquisition, the insider now owns 15,171,964 shares of the company’s stock, valued at $911,379,877.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.95% of the company’s stock.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $60.36 on Tuesday. The company’s 50 day moving average is $59.61 and its 200 day moving average is $57.76. The company has a quick ratio of 1.08, a current ratio of 2.03 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply, Inc. has a 52-week low of $45.71 and a 52-week high of $68.31. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 11.61 and a beta of 1.57.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. Beacon Roofing Supply had a net margin of 5.44% and a return on equity of 30.06%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.98 billion. On average, sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 6.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Beacon Roofing Supply from $65.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, February 27th. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Friday, March 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Beacon Roofing Supply from $85.00 to $86.00 in a research note on Friday. TheStreet downgraded shares of Beacon Roofing Supply from a “b” rating to a “c” rating in a research note on Friday. Finally, StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Thursday, March 16th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and an average target price of $70.00.

About Beacon Roofing Supply

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Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.