Arizona State Retirement System Has $1.20 Million Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Arizona State Retirement System trimmed its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,455 shares of the company’s stock after selling 626 shares during the period. Arizona State Retirement System’s holdings in Beacon Roofing Supply were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sandy Spring Bank acquired a new position in Beacon Roofing Supply in the first quarter valued at about $29,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Beacon Roofing Supply in the first quarter valued at about $29,000. Exchange Traded Concepts LLC acquired a new position in Beacon Roofing Supply in the first quarter valued at about $36,000. Arcadia Investment Management Corp MI acquired a new position in Beacon Roofing Supply in the first quarter valued at about $38,000. Finally, Ronald Blue Trust Inc. grew its stake in Beacon Roofing Supply by 34.4% in the first quarter. Ronald Blue Trust Inc. now owns 817 shares of the company’s stock valued at $43,000 after acquiring an additional 209 shares during the period.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, acquired 46,170 shares of the company’s stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $63.59 per share, for a total transaction of $2,935,950.30. Following the completion of the purchase, the insider now directly owns 10,218,134 shares of the company’s stock, valued at $649,771,141.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, acquired 46,170 shares of the company’s stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $63.59 per share, for a total transaction of $2,935,950.30. Following the completion of the purchase, the insider now directly owns 10,218,134 shares of the company’s stock, valued at $649,771,141.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Christine Stroh Reddy sold 500 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $78.12, for a total value of $39,060.00. Following the completion of the sale, the executive vice president now owns 314 shares in the company, valued at approximately $24,529.68. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.

Beacon Roofing Supply Stock Performance

BECN opened at $69.48 on Monday. Beacon Roofing Supply, Inc. has a 52-week low of $50.42 and a 52-week high of $87.46. The firm has a market capitalization of $4.38 billion, a PE ratio of 13.76, a PEG ratio of 1.56 and a beta of 1.67. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.00 and a current ratio of 1.69. The business’s 50-day simple moving average is $76.06 and its 200 day simple moving average is $74.41.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, August 3rd. The company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.39. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.50 billion. Beacon Roofing Supply had a return on equity of 25.15% and a net margin of 4.69%. As a group, sell-side analysts expect that Beacon Roofing Supply, Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group cut their price target on Beacon Roofing Supply from $92.00 to $89.00 in a report on Thursday, October 12th. Raymond James boosted their price target on Beacon Roofing Supply from $75.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Beacon Roofing Supply from $102.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Royal Bank of Canada upgraded Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $91.00 to $94.00 in a report on Thursday, October 5th. Finally, StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Beacon Roofing Supply has an average rating of “Hold” and an average price target of $89.40.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in 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. It 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.