Glenmede Trust Co. NA held its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,065 shares of the company’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in Beacon Roofing Supply were worth $140,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Beacon Roofing Supply by 2,200.0% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,300 shares of the company’s stock valued at $114,000 after buying an additional 2,200 shares during the period. Renaissance Technologies LLC increased its position in Beacon Roofing Supply by 74.6% in the fourth quarter. Renaissance Technologies LLC now owns 170,357 shares of the company’s stock valued at $7,848,000 after buying an additional 72,800 shares during the period. Fifth Third Bancorp increased its position in Beacon Roofing Supply by 20.2% in the first quarter. Fifth Third Bancorp now owns 3,934 shares of the company’s stock valued at $193,000 after buying an additional 661 shares during the period. Vanguard Group Inc. increased its position in Beacon Roofing Supply by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,845,530 shares of the company’s stock valued at $238,207,000 after buying an additional 246,233 shares during the period. Finally, BlackRock Inc. increased its position in Beacon Roofing Supply by 80,484.5% in the first quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock valued at $197,720,000 after buying an additional 4,016,982 shares during the period.

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) opened at 48.28 on Thursday. The firm’s 50-day moving average price is $48.75 and its 200-day moving average price is $47.72. The company has a market capitalization of $2.91 billion, a PE ratio of 29.46 and a beta of 1.33. 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 posted its earnings results on Thursday, May 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $870.70 million for the quarter, compared to analyst estimates of $814.74 million. Beacon Roofing Supply had a net margin of 2.37% and a return on equity of 9.42%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. On average, analysts expect that Beacon Roofing Supply, Inc. will post $2.37 EPS for the current fiscal year.

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Several equities analysts recently weighed in on BECN shares. Citigroup Inc. reiterated a “buy” rating and set a $52.00 target price (up from $48.00) on shares of Beacon Roofing Supply in a research report on Thursday, May 11th. William Blair reiterated a “neutral” rating and set a $45.00 target price on shares of Beacon Roofing Supply in a research report on Friday, April 14th. Zacks Investment Research downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Monday, April 10th. Royal Bank Of Canada lifted their target price on Beacon Roofing Supply from $51.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, May 8th. Finally, Wedbush reiterated a “neutral” rating and set a $47.00 target price on shares of Beacon Roofing Supply in a research report on Wednesday, May 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $51.50.

Beacon Roofing Supply Company 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.

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

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