Strs Ohio decreased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 13.5% during the second quarter, Holdings Channel reports. The fund owned 96,100 shares of the company’s stock after selling 15,000 shares during the period. Strs Ohio’s holdings in Beacon Roofing Supply were worth $4,708,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Beacon Roofing Supply by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,845,530 shares of the company’s stock worth $238,207,000 after buying an additional 246,233 shares during the period. Frontier Capital Management Co. LLC raised its position in shares of Beacon Roofing Supply by 2.4% in the first quarter. Frontier Capital Management Co. LLC now owns 4,312,112 shares of the company’s stock worth $211,983,000 after buying an additional 101,046 shares during the period. BlackRock Inc. raised its position in shares of Beacon Roofing Supply by 80,484.5% in the first quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock worth $197,720,000 after buying an additional 4,016,982 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Beacon Roofing Supply by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,409,749 shares of the company’s stock worth $118,462,000 after buying an additional 113,306 shares during the period. Finally, Aberdeen Asset Management PLC UK raised its position in shares of Beacon Roofing Supply by 6.1% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,794,682 shares of the company’s stock worth $88,226,000 after buying an additional 103,557 shares during the period.

Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) opened at 43.01 on Monday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 25.54 and a beta of 1.32. Beacon Roofing Supply, Inc. has a one year low of $39.50 and a one year high of $52.12. The stock has a 50 day moving average price of $48.19 and a 200 day moving average price of $47.83.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.06. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 earnings per share. On average, equities research analysts forecast that Beacon Roofing Supply, Inc. will post $2.25 EPS for the current year.

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A number of research analysts have issued reports on BECN shares. Zacks Investment Research upgraded Beacon Roofing Supply from a “sell” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Thursday, April 13th. Citigroup Inc. reiterated a “buy” rating and set a $52.00 price target (up previously from $48.00) on shares of Beacon Roofing Supply in a research report on Thursday, May 11th. Royal Bank Of Canada reiterated a “buy” rating and set a $58.00 price target on shares of Beacon Roofing Supply in a research report on Monday, July 24th. William Blair reiterated a “neutral” rating and set a $45.00 price target on shares of Beacon Roofing Supply in a research report on Friday, April 14th. Finally, Wedbush reiterated a “neutral” rating and set a $47.00 price target on shares of Beacon Roofing Supply in a research report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $50.50.

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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