Natixis Advisors L.P. Purchases 54,774 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Posted by on Apr 16th, 2023

Natixis Advisors L.P. grew its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 124.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,786 shares of the company’s stock after acquiring an additional 54,774 shares during the quarter. Natixis Advisors L.P. owned 0.15% of Beacon Roofing Supply worth $5,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Comerica Bank increased its stake in Beacon Roofing Supply by 3.4% in the 4th quarter. Comerica Bank now owns 57,977 shares of the company’s stock worth $3,142,000 after acquiring an additional 1,927 shares during the last quarter. Waypoint Capital Advisors LLC bought a new position in shares of Beacon Roofing Supply during the 4th quarter valued at approximately $2,349,000. Contravisory Investment Management Inc. increased its position in shares of Beacon Roofing Supply by 13.0% during the 4th quarter. Contravisory Investment Management Inc. now owns 4,384 shares of the company’s stock valued at $231,000 after purchasing an additional 506 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Beacon Roofing Supply by 447.0% during the 3rd quarter. Captrust Financial Advisors now owns 115,719 shares of the company’s stock valued at $6,332,000 after purchasing an additional 94,563 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC increased its position in shares of Beacon Roofing Supply by 48.7% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 23,771 shares of the company’s stock valued at $1,301,000 after purchasing an additional 7,780 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zelman & Associates downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Friday, March 10th. Robert W. Baird boosted their target price on Beacon Roofing Supply from $65.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, February 27th. StockNews.com initiated coverage on Beacon Roofing Supply in a report on Thursday, March 16th. They set a “hold” rating for the company. Stephens boosted their price objective on Beacon Roofing Supply from $65.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, February 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Beacon Roofing Supply from $81.00 to $85.00 and gave the company a “buy” rating in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and an average target price of $70.57.

Beacon Roofing Supply Price Performance

Shares of BECN stock opened at $58.56 on Friday. Beacon Roofing Supply, Inc. has a twelve month low of $45.71 and a twelve month high of $68.31. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.53 and a beta of 1.57. The stock has a fifty day simple moving average of $60.00 and a two-hundred day simple moving average of $57.37. The company has a current ratio of 2.03, a quick ratio of 1.08 and a debt-to-equity ratio of 1.01.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last issued its earnings results on Thursday, February 23rd. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.06. Beacon Roofing Supply had a return on equity of 30.06% and a net margin of 5.44%. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.98 billion. On average, analysts predict that Beacon Roofing Supply, Inc. will post 6.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Cd&R Investment Associates Ix, purchased 107,185 shares of Beacon Roofing Supply stock in a transaction dated Monday, January 30th. The stock was purchased at an average cost of $55.98 per share, with a total value of $6,000,216.30. Following the transaction, the insider now owns 15,072,084 shares in the company, valued at approximately $843,735,262.32. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.95% of the company’s stock.

Beacon Roofing Supply Profile

(Get Rating)

Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.

Further Reading

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

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.