Cubist Systematic Strategies LLC Reduces Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Cubist Systematic Strategies LLC decreased its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 41.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,384 shares of the company’s stock after selling 6,533 shares during the period. Cubist Systematic Strategies LLC’s holdings in Beacon Roofing Supply were worth $345,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Beacon Roofing Supply by 52.4% during the 2nd quarter. Bank of Montreal Can now owns 17,181 shares of the company’s stock worth $630,000 after buying an additional 5,906 shares during the period. Aperio Group LLC grew its holdings in Beacon Roofing Supply by 5.2% during the 2nd quarter. Aperio Group LLC now owns 13,637 shares of the company’s stock worth $501,000 after acquiring an additional 671 shares in the last quarter. Menta Capital LLC acquired a new position in Beacon Roofing Supply during the 2nd quarter worth $400,000. Iridian Asset Management LLC CT grew its holdings in 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 acquiring an additional 466,956 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Beacon Roofing Supply by 2.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 652,808 shares of the company’s stock worth $23,972,000 after acquiring an additional 13,983 shares in the last quarter.

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 3,207,200 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

NASDAQ BECN opened at $30.50 on Friday. Beacon Roofing Supply, Inc. has a one year low of $24.97 and a one year high of $40.00. The company has a 50-day simple moving average of $32.43 and a 200-day simple moving average of $34.73. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.17 and a current ratio of 2.07. The firm has a market capitalization of $2.14 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.42.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.32). Beacon Roofing Supply had a net margin of 0.15% and a return on equity of 9.63%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the firm posted $1.18 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts forecast that Beacon Roofing Supply, Inc. will post 2.39 earnings per share for the current year.

BECN has been the subject of several recent analyst reports. Evercore ISI reissued a “hold” rating and set a $31.00 price objective on shares of Beacon Roofing Supply in a report on Thursday, August 8th. SunTrust Banks set a $40.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a report on Wednesday, August 7th. Raymond James set a $38.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a report on Wednesday, August 7th. BidaskClub lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered 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 report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Beacon Roofing Supply currently has a consensus rating of “Hold” and an average price target of $34.64.

Beacon Roofing Supply Company Profile

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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