California Public Employees Retirement System Sells 3,291 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

California Public Employees Retirement System cut its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,101 shares of the company’s stock after selling 3,291 shares during the quarter. California Public Employees Retirement System’s holdings in Beacon Roofing Supply were worth $11,184,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP boosted its holdings 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 purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth about $31,000. PNC Financial Services Group Inc. increased its stake in Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after acquiring an additional 163 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after acquiring an additional 150 shares in the last quarter. Finally, Principal Securities Inc. lifted its position 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 worth $140,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock opened at $122.43 on Friday. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $123.90. 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 capitalization of $7.56 billion, a PE ratio of 20.93 and a beta of 1.31. The stock’s fifty day simple moving average is $119.17 and its 200 day simple moving average is $107.31.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data 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). The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BECN. Raymond James cut Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Wednesday. They issued a “sell” rating for the company. Robert W. Baird lifted their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Beacon Roofing Supply 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.