KLP Kapitalforvaltning AS Makes New Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

KLP Kapitalforvaltning AS purchased a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the fourth quarter, Holdings Channel reports. The firm purchased 12,800 shares of the company’s stock, valued at approximately $1,300,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP boosted its holdings in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply in the 4th quarter worth about $31,000. PNC Financial Services Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after buying an additional 163 shares during the period. Principal Securities Inc. grew its position in shares of Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after buying an additional 196 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth about $152,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply Trading Down 0.0 %

Beacon Roofing Supply stock opened at $123.82 on Friday. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $123.90. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock has a market capitalization of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63. The firm has a 50 day simple moving average of $118.50 and a 200-day simple moving average of $106.05.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. As a group, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BECN shares. Robert W. Baird lifted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Baird R W downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Raymond James downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Loop Capital reaffirmed a “hold” rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $120.95.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.