Fortaleza Asset Management Inc. lessened its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 48.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,720 shares of the company’s stock after selling 2,510 shares during the quarter. Fortaleza Asset Management Inc.’s holdings in Beacon Roofing Supply were worth $139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BECN. SG Americas Securities LLC bought a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at about $100,000. Advisors Asset Management Inc. boosted its stake in shares of Beacon Roofing Supply by 36.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock valued at $103,000 after purchasing an additional 565 shares during the last quarter. Huntington National Bank boosted its stake in shares of Beacon Roofing Supply by 3.8% in the 2nd quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after purchasing an additional 116 shares during the last quarter. Lloyds Banking Group plc boosted its stake in shares of Beacon Roofing Supply by 37.7% in the 2nd quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock valued at $180,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock valued at $190,000 after purchasing an additional 316 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors.

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Several brokerages have recently issued reports on BECN. Wells Fargo & Company began coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 18th. They issued a “market perform” rating and a $58.00 target price on the stock. KeyCorp reaffirmed a “buy” rating and issued a $56.00 target price on shares of Beacon Roofing Supply in a research note on Sunday, October 15th. Robert W. Baird reaffirmed a “buy” rating and issued a $55.00 target price on shares of Beacon Roofing Supply in a research note on Thursday, October 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $53.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, October 10th. Finally, Zacks Investment Research raised shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 target price on the stock in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.17.

Shares of Beacon Roofing Supply, Inc. (BECN) traded up 1.32% during mid-day trading on Wednesday, hitting $56.14. 16,546 shares of the company were exchanged. The firm has a 50 day moving average of $51.97 and a 200 day moving average of $48.66. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 33.34 and a beta of 1.32. Beacon Roofing Supply, Inc. has a 12-month low of $39.57 and a 12-month high of $56.36.

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 net margin of 2.42% and a return on equity of 9.55%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Beacon Roofing Supply, Inc. will post $2.19 earnings per share for the current year.

About Beacon Roofing Supply

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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