Beacon Roofing Supply, Inc. (BECN) Stake Boosted by Jennison Associates LLC

Jennison Associates LLC lifted its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 502.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,683,096 shares of the company’s stock after acquiring an additional 1,403,608 shares during the quarter. Jennison Associates LLC owned 2.52% of Beacon Roofing Supply worth $86,259,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BECN. BlackRock Inc. lifted its holdings in shares of Beacon Roofing Supply by 80,484.5% in the 1st quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock worth $197,720,000 after acquiring an additional 4,016,982 shares during the last quarter. Cramer Rosenthal Mcglynn LLC lifted its holdings in shares of Beacon Roofing Supply by 51.2% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,174,020 shares of the company’s stock worth $57,527,000 after acquiring an additional 397,770 shares during the last quarter. Skylands Capital LLC lifted its holdings in Beacon Roofing Supply by 1,144.0% during the 3rd quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock worth $10,583,000 after buying an additional 189,900 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Beacon Roofing Supply by 10.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock worth $91,807,000 after buying an additional 176,659 shares in the last quarter. Finally, Vivaldi Asset Management LLC acquired a new stake in Beacon Roofing Supply during the 2nd quarter worth approximately $8,016,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Beacon Roofing Supply, Inc. (NASDAQ BECN) traded up $0.62 during midday trading on Monday, hitting $54.87. 261,000 shares of the company were exchanged, compared to its average volume of 495,399. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.30 and a quick ratio of 1.36. The stock has a market cap of $3,661.60, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.45. Beacon Roofing Supply, Inc. has a 1 year low of $39.57 and a 1 year high of $56.36.

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BECN has been the topic of a number of research reports. SunTrust Banks, Inc. reiterated a “buy” rating and set a $55.00 target price on shares of Beacon Roofing Supply in a report on Monday, October 2nd. KeyCorp reiterated a “buy” rating and set a $56.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, September 12th. Jefferies Group LLC upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and increased their target price for the stock from $50.00 to $54.00 in a report on Friday, August 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $58.00 target price on shares of Beacon Roofing Supply in a report on Monday, July 24th. Finally, Northcoast Research raised shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.17.

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.

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

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