American Century Companies Inc. Sells 382,892 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

American Century Companies Inc. reduced its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,857,790 shares of the company’s stock after selling 382,892 shares during the quarter. American Century Companies Inc. owned about 4.64% of Beacon Roofing Supply worth $290,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Equitable Trust Co. boosted its position in shares of Beacon Roofing Supply by 1.7% during the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock valued at $734,000 after acquiring an additional 122 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after acquiring an additional 163 shares during the last quarter. Cornerstone Investment Partners LLC boosted its position in shares of Beacon Roofing Supply by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock valued at $480,000 after acquiring an additional 166 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Beacon Roofing Supply by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after acquiring an additional 181 shares during the last quarter. Finally, Principal Securities Inc. boosted 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 acquiring an additional 196 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Performance

BECN stock opened at $123.77 on Friday. 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 business’s fifty day simple moving average is $117.35 and its two-hundred day simple moving average is $104.46. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $123.90. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. BMO Capital Markets lowered their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Benchmark restated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Finally, Loop Capital restated a “hold” rating and issued a $124.00 price target on shares of Beacon Roofing Supply in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus price target of $120.95.

Beacon Roofing Supply 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.