500,000 Shares in Beacon Roofing Supply, Inc. (BECN) Acquired by Davidson Kempner Capital Management LP

Davidson Kempner Capital Management LP bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 500,000 shares of the company’s stock, valued at approximately $25,625,000. Davidson Kempner Capital Management LP owned 0.75% of Beacon Roofing Supply as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BECN. Jennison Associates LLC grew its position in shares of Beacon Roofing Supply by 502.2% during the 3rd quarter. Jennison Associates LLC now owns 1,683,096 shares of the company’s stock valued at $86,259,000 after acquiring an additional 1,403,608 shares during the period. TimesSquare Capital Management LLC grew its position in shares of Beacon Roofing Supply by 108.4% during the 3rd quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock valued at $121,053,000 after acquiring an additional 1,228,625 shares during the period. Stephens Investment Management Group LLC acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at about $32,333,000. Cramer Rosenthal Mcglynn LLC grew its position in shares of Beacon Roofing Supply by 51.2% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,174,020 shares of the company’s stock valued at $57,527,000 after acquiring an additional 397,770 shares during the period. Finally, Skylands Capital LLC grew its position in shares of Beacon Roofing Supply by 1,144.0% during the 3rd quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock valued at $10,583,000 after acquiring an additional 189,900 shares during the period.

A number of equities research analysts have recently commented on BECN shares. SunTrust Banks restated a “buy” rating and set a $55.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 10th. Royal Bank of Canada restated an “outperform” rating and set a $63.00 target price (up from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Wells Fargo & Co assumed coverage on Beacon Roofing Supply in a research report on Wednesday, October 18th. They set a “market perform” rating and a $58.00 target price on the stock. Zacks Investment Research upgraded Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price objective on the stock in a report on Tuesday, October 3rd. Finally, Wedbush reiterated a “neutral” rating and issued a $46.00 price objective (down from $52.00) on shares of Beacon Roofing Supply in a report on Friday, November 17th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $56.91.

In other news, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total transaction of $119,500.00. Following the transaction, the executive vice president now directly owns 7,056 shares in the company, valued at approximately $421,596. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the transaction, the chief executive officer now owns 172,046 shares in the company, valued at $10,420,826.22. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) traded up $0.93 during mid-day trading on Tuesday, reaching $64.69. The company had a trading volume of 604,077 shares, compared to its average volume of 532,400. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. Beacon Roofing Supply, Inc. has a 12 month low of $39.57 and a 12 month high of $64.88. The firm has a market cap of $4,380.00, a PE ratio of 39.45, a price-to-earnings-growth ratio of 0.83 and a beta of 1.49.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Monday, November 20th. The company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. Beacon Roofing Supply had a return on equity of 9.09% and a net margin of 2.30%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 3.08 earnings per share for the current fiscal year.

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Beacon Roofing Supply Company Profile

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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