Ironwood Investment Management LLC Has $2.48 Million Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Ironwood Investment Management LLC grew its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 24,455 shares of the company’s stock after purchasing an additional 353 shares during the quarter. Beacon Roofing Supply makes up 1.2% of Ironwood Investment Management LLC’s investment portfolio, making the stock its 21st largest position. Ironwood Investment Management LLC’s holdings in Beacon Roofing Supply were worth $2,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in BECN. FMR LLC increased its stake in shares of Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after purchasing an additional 963,633 shares during the period. State Street Corp increased its position in Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after buying an additional 15,505 shares during the period. Fisher Asset Management LLC increased its position in Beacon Roofing Supply by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock worth $103,011,000 after buying an additional 20,372 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Beacon Roofing Supply by 2.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company’s stock valued at $100,076,000 after acquiring an additional 22,122 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Beacon Roofing Supply by 1,449.0% in the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock valued at $53,205,000 after acquiring an additional 575,852 shares during the period. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 0.3 %

Shares of NASDAQ BECN opened at $118.34 on Friday. The stock has a 50-day moving average price of $115.09 and a two-hundred day moving average price of $103.14. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $121.42. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 20.23 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last issued 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). The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research note on Sunday, March 9th. They issued a “sell” rating for the company. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. BMO Capital Markets lowered their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Finally, Stephens reiterated an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $119.95.

Beacon Roofing Supply Company 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.