Federated Hermes Inc. Sells 1,766 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Federated Hermes Inc. lessened its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 87,282 shares of the company’s stock after selling 1,766 shares during the period. Federated Hermes Inc.’s holdings in Beacon Roofing Supply were worth $7,595,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BECN. Parkside Financial Bank & Trust lifted its stake in Beacon Roofing Supply by 49.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after acquiring an additional 161 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Beacon Roofing Supply by 63.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after acquiring an additional 325 shares in the last quarter. Headlands Technologies LLC bought a new stake in Beacon Roofing Supply in the 3rd quarter valued at approximately $98,000. CI Investments Inc. bought a new stake in Beacon Roofing Supply in the 3rd quarter valued at approximately $157,000. Finally, Cannon Global Investment Management LLC bought a new stake in Beacon Roofing Supply in the 3rd quarter valued at approximately $208,000. Institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BECN. Robert W. Baird upgraded Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $99.00 to $115.00 in a research note on Thursday, February 29th. Loop Capital upped their price objective on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. Benchmark began coverage on Beacon Roofing Supply in a research note on Thursday, April 18th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, BMO Capital Markets upped their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.92.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ BECN opened at $97.21 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06. The stock’s fifty day moving average price is $91.91 and its two-hundred day moving average price is $84.82. Beacon Roofing Supply, Inc. has a one year low of $56.94 and a one year high of $102.83. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of -206.83 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company earned $1.18 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current year.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jason L. Taylor sold 1,805 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the sale, the executive vice president now owns 176 shares of the company’s stock, valued at $16,521.12. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.