Dimensional Fund Advisors LP lowered its position in Beacon Roofing Supply Inc. (NASDAQ:BECN) by 14.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,239,636 shares of the company’s stock after selling 372,651 shares during the period. Dimensional Fund Advisors LP owned about 3.75% of Beacon Roofing Supply worth $101,831,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Springbok Capital Management LLC raised its stake in shares of Beacon Roofing Supply by 275.5% in the first quarter. Springbok Capital Management LLC now owns 2,700 shares of the company’s stock worth $111,000 after buying an additional 1,981 shares in the last quarter. BlackRock Inc. raised its stake in shares of Beacon Roofing Supply by 116.8% in the first quarter. BlackRock Inc. now owns 3,442 shares of the company’s stock worth $141,000 after buying an additional 1,854 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Beacon Roofing Supply by 2.8% in the second quarter. Glenmede Trust Co. NA now owns 3,151 shares of the company’s stock worth $143,000 after buying an additional 86 shares in the last quarter. Parametrica Management Ltd purchased a new stake in shares of Beacon Roofing Supply during the first quarter worth $211,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Beacon Roofing Supply during the first quarter worth $216,000.

Shares of Beacon Roofing Supply Inc. (NASDAQ:BECN) traded down 2.02% during midday trading on Tuesday, hitting $39.83. The company had a trading volume of 252,207 shares. Beacon Roofing Supply Inc. has a 52 week low of $32.02 and a 52 week high of $48.96. The firm’s 50 day moving average is $45.17 and its 200 day moving average is $43.80. The company has a market capitalization of $2.38 billion, a P/E ratio of 31.34 and a beta of 1.39.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. Beacon Roofing Supply had a return on equity of 9.66% and a net margin of 1.96%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $0.56 earnings per share. The firm’s revenue was up 60.5% compared to the same quarter last year. Equities research analysts anticipate that Beacon Roofing Supply Inc. will post $2.13 EPS for the current year.

A number of brokerages recently weighed in on BECN. BB&T Corp. upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Friday, June 10th. Wedbush restated a “neutral” rating and set a $50.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, September 6th. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, June 28th. Jefferies Group began coverage on Beacon Roofing Supply in a research report on Wednesday, July 6th. They set a “hold” rating and a $46.00 price objective on the stock. Finally, Robert W. Baird restated an “outperform” rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research report on Wednesday, July 6th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $48.44.

In other Beacon Roofing Supply news, Director Carl T. Berquist acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were bought at an average price of $44.81 per share, for a total transaction of $224,050.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $224,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ross D. Cooper sold 8,403 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $47.50, for a total value of $399,142.50. Following the completion of the sale, the executive vice president now owns 5,255 shares in the company, valued at approximately $249,612.50. The disclosure for this sale can be found here. 1.15% of the stock is owned by corporate insiders.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.

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