Huntington National Bank Sells 187 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Huntington National Bank lessened its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,481 shares of the company’s stock after selling 187 shares during the quarter. Huntington National Bank’s holdings in Beacon Roofing Supply were worth $150,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. Quarry LP increased its stake in Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after buying an additional 163 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock worth $73,000 after buying an additional 150 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings in shares of Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after acquiring an additional 196 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Down 1.0 %

Beacon Roofing Supply stock opened at $122.43 on Friday. The company has a market capitalization of $7.56 billion, a PE ratio of 20.93 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $123.90. The firm’s fifty day moving average is $119.17 and its 200 day moving average is $107.31. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. As a group, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Royal Bank of Canada cut shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $124.00 to $124.35 in a research note on Wednesday. Raymond James cut Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. Robert W. Baird raised their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Finally, StockNews.com initiated coverage on Beacon Roofing Supply in a report on Wednesday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $122.10.

About Beacon Roofing Supply

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.