Prudential Financial Inc. Grows Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Prudential Financial Inc. increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 14.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,909 shares of the company’s stock after purchasing an additional 4,294 shares during the quarter. Prudential Financial Inc. owned approximately 0.06% of Beacon Roofing Supply worth $3,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BECN. 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 worth $26,000 after buying an additional 197 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply in the fourth quarter valued at $31,000. PNC Financial Services Group Inc. grew its holdings in shares of Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares during the last quarter. Principal Securities Inc. increased its position in shares of Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after purchasing an additional 196 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $152,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply Stock Up 0.1 %

Beacon Roofing Supply stock opened at $123.78 on Wednesday. The stock’s 50 day moving average price is $118.65 and its 200 day moving average price is $106.53. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $123.90. The company has a market cap of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. 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 issued its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BECN has been the topic of several research analyst reports. StockNews.com began coverage on Beacon Roofing Supply in a research report on Wednesday. They set a “sell” rating on the stock. Baird R W cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Raymond James downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. Benchmark reissued a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Finally, William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply has an average rating of “Hold” and an average target price of $120.95.

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.