TD Asset Management Inc Raises Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Posted by Defense World Staff on May 9th, 2023

TD Asset Management Inc boosted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,800 shares of the company’s stock after buying an additional 6,600 shares during the quarter. TD Asset Management Inc owned approximately 0.06% of Beacon Roofing Supply worth $2,101,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BECN. Point72 Asset Management L.P. increased its holdings in Beacon Roofing Supply by 497.8% during the third quarter. Point72 Asset Management L.P. now owns 266,600 shares of the company’s stock valued at $14,588,000 after buying an additional 222,000 shares during the period. Great Lakes Advisors LLC purchased a new position in Beacon Roofing Supply in the third quarter worth $9,968,000. Price T Rowe Associates Inc. MD grew its holdings in Beacon Roofing Supply by 4.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock worth $144,131,000 after purchasing an additional 106,890 shares during the last quarter. Millennium Management LLC purchased a new position in Beacon Roofing Supply in the second quarter worth $5,463,000. Finally, Clayton Dubilier & Rice LLC grew its holdings in Beacon Roofing Supply by 0.7% in the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,983,387 shares of the company’s stock worth $790,973,000 after purchasing an additional 105,320 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on BECN shares. Zelman & Associates lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Friday, March 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Beacon Roofing Supply from $85.00 to $86.00 in a report on Friday. TheStreet lowered shares of Beacon Roofing Supply from a “b” rating to a “c” rating in a report on Friday. Robert W. Baird lifted their price objective on shares of Beacon Roofing Supply from $65.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, February 27th. Finally, Stephens lowered their price objective on shares of Beacon Roofing Supply from $70.00 to $68.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.00.

Beacon Roofing Supply Trading Up 2.3 %

NASDAQ BECN opened at $60.36 on Tuesday. The company has a market capitalization of $3.88 billion, a PE ratio of 11.61 and a beta of 1.57. The company has a fifty day moving average of $59.61 and a 200 day moving average of $57.76. Beacon Roofing Supply, Inc. has a 1 year low of $45.71 and a 1 year high of $68.31. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.03 and a quick ratio of 1.08.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.98 billion. Beacon Roofing Supply had a net margin of 5.44% and a return on equity of 30.06%. Research analysts forecast that Beacon Roofing Supply, Inc. will post 6.2 earnings per share for the current year.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 99,880 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The stock was bought at an average cost of $60.07 per share, for a total transaction of $5,999,791.60. Following the completion of the transaction, the insider now directly owns 15,171,964 shares of the company’s stock, valued at approximately $911,379,877.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.95% of the stock is currently owned by insiders.

About Beacon Roofing Supply

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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.