Nationwide Fund Advisors raised its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 22.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 543,546 shares of the company’s stock after buying an additional 99,213 shares during the quarter. Nationwide Fund Advisors owned about 0.90% of Beacon Roofing Supply worth $26,634,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Beacon Roofing Supply by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 1,061,255 shares of the company’s stock valued at $51,999,000 after buying an additional 22,749 shares during the last quarter. Vanguard Group Inc. raised its stake 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 last quarter. State Street Corp raised its stake in Beacon Roofing Supply by 2.4% in the first quarter. State Street Corp now owns 1,115,764 shares of the company’s stock valued at $54,844,000 after buying an additional 26,202 shares during the last quarter. BlackRock Inc. raised its stake 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 last quarter. Finally, Fifth Third Bancorp raised its stake 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 last quarter.

Shares of Beacon Roofing Supply, Inc. (BECN) opened at 48.68 on Friday. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 28.91 and a beta of 1.30. Beacon Roofing Supply, Inc. has a 12-month low of $39.50 and a 12-month high of $52.12. The company’s 50-day moving average price is $44.89 and its 200 day moving average price is $47.71.

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

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BECN has been the subject of a number of research analyst reports. BidaskClub cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. SunTrust Banks, Inc. reissued a “buy” rating on shares of Beacon Roofing Supply in a report on Tuesday, September 12th. Northcoast Research raised Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Friday, August 25th. Jefferies Group LLC raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and increased their price objective for the company from $50.00 to $54.00 in a report on Friday, August 25th. Finally, KeyCorp reissued a “buy” rating and issued a $56.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $52.00.

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.

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

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