Rhumbline Advisers Has $3.80 Million Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Rhumbline Advisers trimmed its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,481 shares of the company’s stock after selling 129 shares during the period. Rhumbline Advisers owned about 0.13% of Beacon Roofing Supply worth $3,797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new stake in shares of Beacon Roofing Supply during the second quarter worth $236,000. DekaBank Deutsche Girozentrale raised its holdings in Beacon Roofing Supply by 316.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 12,500 shares of the company’s stock valued at $605,000 after buying an additional 9,500 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Beacon Roofing Supply by 5.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 366,870 shares of the company’s stock valued at $17,977,000 after buying an additional 18,760 shares in the last quarter. Sei Investments Co. raised its holdings in Beacon Roofing Supply by 21.3% during the second quarter. Sei Investments Co. now owns 77,004 shares of the company’s stock valued at $3,774,000 after buying an additional 13,541 shares in the last quarter. Finally, Rothschild Asset Management Inc. raised its holdings in Beacon Roofing Supply by 4.4% during the second quarter. Rothschild Asset Management Inc. now owns 508,564 shares of the company’s stock valued at $24,920,000 after buying an additional 21,214 shares in the last quarter.

BECN has been the topic of several recent research reports. Wedbush restated a “neutral” rating and set a $47.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, July 5th. Royal Bank Of Canada restated a “buy” rating and set a $58.00 target price on shares of Beacon Roofing Supply in a report on Monday, July 24th. BidaskClub lowered Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Jefferies Group LLC upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and raised their target price for the company from $50.00 to $54.00 in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $52.00.

Beacon Roofing Supply, Inc. (BECN) traded down 1.30% during trading on Wednesday, hitting $47.86. The stock had a trading volume of 721,316 shares. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 28.42 and a beta of 1.30. The stock has a 50 day moving average price of $45.06 and a 200 day moving average price of $47.77. Beacon Roofing Supply, Inc. has a 12-month low of $39.50 and a 12-month high of $52.12.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Beacon Roofing Supply, Inc. will post $2.20 earnings per share for the current year.

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Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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