15,995 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Purchased by Systematic Financial Management LP

Systematic Financial Management LP purchased a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,995 shares of the company’s stock, valued at approximately $536,000.

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Several other hedge funds have also recently added to or reduced their stakes in BECN. Clayton Dubilier & Rice LLC boosted its stake in shares of Beacon Roofing Supply by 78.1% during the 2nd quarter. Clayton Dubilier & Rice LLC now owns 10,550,161 shares of the company’s stock worth $393,574,000 after purchasing an additional 4,625,998 shares during the period. Iridian Asset Management LLC CT boosted its stake in shares of Beacon Roofing Supply by 14.4% during the 2nd quarter. Iridian Asset Management LLC CT now owns 3,712,742 shares of the company’s stock worth $136,332,000 after purchasing an additional 466,956 shares during the period. FMR LLC boosted its stake in shares of Beacon Roofing Supply by 175.1% during the 1st quarter. FMR LLC now owns 550,230 shares of the company’s stock worth $17,695,000 after purchasing an additional 350,228 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Beacon Roofing Supply during the 2nd quarter worth about $12,221,000. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Beacon Roofing Supply by 162.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 447,777 shares of the company’s stock worth $16,442,000 after purchasing an additional 277,365 shares during the period.

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, acquired 3,207,200 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were acquired at an average cost of $32.08 per share, with a total value of $102,886,976.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

BECN has been the subject of several research reports. Raymond James set a $38.00 price objective on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research report on Wednesday, August 7th. Evercore ISI reissued a “hold” rating and issued a $31.00 price objective on shares of Beacon Roofing Supply in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut shares of Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 price objective for the company. in a research report on Thursday, September 26th. Wedbush reissued a “neutral” rating and issued a $33.00 price objective on shares of Beacon Roofing Supply in a research report on Wednesday, August 7th. Finally, Stephens set a $37.00 price objective on shares of Beacon Roofing Supply and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $34.64.

Shares of NASDAQ BECN traded up $0.02 during trading hours on Friday, hitting $34.48. 419,700 shares of the stock were exchanged, compared to its average volume of 391,219. The firm has a fifty day moving average price of $32.30 and a 200-day moving average price of $34.20. The company has a market cap of $2.33 billion, a PE ratio of 12.77, a PEG ratio of 1.13 and a beta of 1.39. The company has a quick ratio of 1.17, a current ratio of 2.07 and a debt-to-equity ratio of 1.59. Beacon Roofing Supply, Inc. has a 12 month low of $25.10 and a 12 month high of $40.00.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

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

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