CD&R BOULDER HOLDINGS, L.P. Maintains 12.5% Stake in Beacon Roofing Supply, Inc. (BECN)
CD&R BOULDER HOLDINGS, L.P.
recently revealed that they own 12.5% of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in a Form 13D disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, January 4th. The investor owns 9,694,620 shares of the stock worth approximately $640,620,490. The reporting parties listed on the disclosure included CD&R Boulder Holdings, LP and CD&R Investment Associates IX, Ltd. The disclosure is available through EDGAR at this link.
provided the following explanation of their ownership:
Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Beacon Roofing Supply in the 2nd quarter worth approximately $100,000. Advisors Asset Management Inc. increased its position in Beacon Roofing Supply by 36.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after buying an additional 565 shares during the period. Zions Bancorporation bought a new position in Beacon Roofing Supply in the 3rd quarter worth approximately $124,000. Advisor Group Inc. increased its position in Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after buying an additional 316 shares during the period. Finally, Keybank National Association OH bought a new position in Beacon Roofing Supply in the 3rd quarter worth approximately $210,000.
Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) traded up $1.39 during mid-day trading on Thursday, reaching $66.08. The company had a trading volume of 697,700 shares, compared to its average volume of 656,850. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4,381.74, a price-to-earnings ratio of 40.54, a price-to-earnings-growth ratio of 0.83 and a beta of 1.49. Beacon Roofing Supply, Inc. has a twelve month low of $39.57 and a twelve month high of $66.43.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. Beacon Roofing Supply’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. research analysts anticipate that Beacon Roofing Supply, Inc. will post 3.1 EPS for the current year.
A number of research firms have recently issued reports on BECN. SunTrust Banks restated a “buy” rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 10th. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price objective (up from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Wells Fargo & Co began coverage on Beacon Roofing Supply in a research report on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price objective on the stock. Zacks Investment Research upgraded Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price objective on the stock in a research report on Tuesday, October 3rd. Finally, BidaskClub cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.91.
In other Beacon Roofing Supply news, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the transaction, the chief executive officer now owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the completion of the transaction, the executive vice president now directly owns 7,056 shares in the company, valued at approximately $421,596. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.
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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.
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