Huntington National Bank Sells 187 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Huntington National Bank decreased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,481 shares of the company’s stock after selling 187 shares during the quarter. Huntington National Bank’s holdings in Beacon Roofing Supply were worth $150,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BECN. Equitable Trust Co. increased its holdings in shares of Beacon Roofing Supply by 1.7% during the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after buying an additional 122 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after purchasing an additional 150 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares in the last quarter. Cornerstone Investment Partners LLC grew its holdings in shares of Beacon Roofing Supply by 3.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock worth $480,000 after purchasing an additional 166 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after buying an additional 181 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of BECN stock opened at $122.43 on Friday. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 20.93 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $123.90. 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 firm has a fifty day moving average of $119.17 and a 200-day moving average of $107.31.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $2.43 billion. On average, equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BECN. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a report on Wednesday. They set a “sell” rating on the stock. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Baird R W lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Robert W. Baird raised their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $122.10.

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.