Elk Creek Partners LLC Sells 34,787 Shares of Beacon Roofing Supply, Inc. (BECN)

Elk Creek Partners LLC reduced its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,074 shares of the company’s stock after selling 34,787 shares during the period. Beacon Roofing Supply accounts for about 1.1% of Elk Creek Partners LLC’s investment portfolio, making the stock its 29th largest holding. Elk Creek Partners LLC owned about 0.56% of Beacon Roofing Supply worth $16,615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new position in Beacon Roofing Supply during the 2nd quarter valued at about $100,000. Advisors Asset Management Inc. lifted its position in Beacon Roofing Supply by 36.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock valued at $103,000 after acquiring an additional 565 shares during the period. Huntington National Bank lifted its position in Beacon Roofing Supply by 3.8% during the 2nd quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after acquiring an additional 116 shares during the period. Lloyds Banking Group plc lifted its position in Beacon Roofing Supply by 37.7% during the 2nd quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock valued at $180,000 after acquiring an additional 1,012 shares during the period. Finally, Fifth Third Bancorp lifted its position in Beacon Roofing Supply by 20.2% during the 1st quarter. Fifth Third Bancorp now owns 3,934 shares of the company’s stock valued at $193,000 after acquiring an additional 661 shares during the period.

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Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) traded up 0.50% during mid-day trading on Friday, hitting $48.68. 824,632 shares of the stock were exchanged. Beacon Roofing Supply, Inc. has a 52-week low of $39.50 and a 52-week high of $52.12. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 28.91 and a beta of 1.30. The stock has a 50-day moving average price of $44.89 and a 200 day moving average price of $47.71.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post $2.20 earnings per share for the current year.

A number of research analysts recently issued reports on the stock. KeyCorp reissued a “buy” rating and set a $56.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday. SunTrust Banks, Inc. reissued a “buy” rating on shares of Beacon Roofing Supply in a research report on Tuesday. Citigroup Inc. lifted their price target on shares of Beacon Roofing Supply from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, August 28th. Northcoast Research raised shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Friday, August 25th. Finally, Jefferies Group LLC raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $54.00 in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $52.00.

About Beacon Roofing Supply

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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