First Mercantile Trust Co. Makes New $252,000 Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

First Mercantile Trust Co. acquired a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,527 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings 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 acquiring an additional 5,906 shares during the last quarter. 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 during the last quarter. California Public Employees Retirement System grew its holdings in Beacon Roofing Supply by 68.2% during the 3rd quarter. California Public Employees Retirement System now owns 167,457 shares of the company’s stock worth $5,615,000 after acquiring an additional 67,914 shares during the last quarter. Rhumbline Advisers grew its holdings in Beacon Roofing Supply by 3.1% during the 3rd quarter. Rhumbline Advisers now owns 106,694 shares of the company’s stock worth $3,577,000 after acquiring an additional 3,177 shares during the last quarter. Finally, Menta Capital LLC bought a new stake in Beacon Roofing Supply during the 2nd quarter worth approximately $400,000.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating and set a $28.00 price objective on the stock in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lowered shares of Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a research note on Thursday, September 26th. Deutsche Bank assumed coverage on shares of Beacon Roofing Supply in a research note on Wednesday, November 27th. They issued a “hold” rating and a $39.00 price objective on the stock. Wedbush reaffirmed a “neutral” rating and issued a $29.00 price objective (down from $33.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 26th. Finally, BidaskClub lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Beacon Roofing Supply has a consensus rating of “Hold” and an average target price of $34.09.

Shares of Beacon Roofing Supply stock traded down $0.72 during trading on Monday, reaching $28.93. 1,198,790 shares of the company traded hands, compared to its average volume of 690,956. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.75 and a quick ratio of 1.04. Beacon Roofing Supply, Inc. has a 1-year low of $26.50 and a 1-year high of $40.00. The company has a 50 day moving average price of $32.54 and a 200-day moving average price of $33.83. The firm has a market capitalization of $2.03 billion, a PE ratio of 12.80, a P/E/G ratio of 1.08 and a beta of 1.37.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Monday, November 25th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.17). Beacon Roofing Supply had a negative net margin of 0.15% and a positive return on equity of 9.55%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that Beacon Roofing Supply, Inc. will post 2.69 earnings per share for the current year.

In other news, major shareholder Cd&R Investment Associates Ix, bought 3,207,200 shares of the stock in a transaction dated Wednesday, September 25th. The stock was bought at an average price of $32.08 per share, for a total transaction of $102,886,976.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard W. Frost bought 3,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average price of $30.05 per share, with a total value of $90,150.00. Following the acquisition, the director now owns 37,249 shares of the company’s stock, valued at $1,119,332.45. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

About Beacon Roofing Supply

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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