Corebridge Financial Inc. Has $3.13 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Corebridge Financial Inc. trimmed its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,826 shares of the company’s stock after selling 3,232 shares during the period. Corebridge Financial Inc.’s holdings in Beacon Roofing Supply were worth $3,131,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Quarry LP lifted its stake in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply during the fourth quarter valued at about $31,000. PNC Financial Services Group Inc. lifted its position in shares of Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after buying an additional 163 shares during the last quarter. Principal Securities Inc. increased its holdings 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 acquiring an additional 196 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Beacon Roofing Supply during the 4th quarter valued at about $152,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

BECN has been the subject of several analyst reports. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Loop Capital reaffirmed a “hold” rating and set a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Baird R W downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Stock Down 0.1 %

BECN stock opened at $123.70 on Tuesday. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $123.90. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a market cap of $7.62 billion, a PE ratio of 21.15 and a beta of 1.63. The business’s 50-day simple moving average is $118.65 and its 200 day simple moving average is $106.53.

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

Beacon Roofing Supply Company Profile

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.