Price T Rowe Associates Inc Increased Beacon Roofing Supply Inc (NASDAQ:BECN) Stake by $14.64 Million

May 23, 2018 - By Marguerite Chambers

Beacon Roofing Supply, Inc. (NASDAQ:BECN) LogoInvestors sentiment decreased to 1.38 in Q4 2017. Its down 0.53, from 1.91 in 2017Q3. It worsened, as 22 investors sold BECN shares while 77 reduced holdings. 63 funds opened positions while 74 raised stakes. 64.82 million shares or 2.48% less from 66.46 million shares in 2017Q3 were reported. Essex Investment Company Limited Liability reported 37,250 shares or 0.31% of all its holdings. Lomas Cap Mgmt Limited Com invested in 237,063 shares or 3.05% of the stock. Martingale Asset Management L P holds 6,021 shares or 0.01% of its portfolio. Bluecrest Mgmt Limited accumulated 0.02% or 12,025 shares. Moreover, Hap Trading Limited Liability has 0.07% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Contravisory Investment Management Inc holds 0.08% or 3,407 shares. Ny State Common Retirement Fund reported 173,242 shares. Zeke Advisors Lc holds 0.03% or 3,875 shares. Deutsche Bancshares Ag holds 0.04% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 1.02M shares. Moreover, Mark Sheptoff Financial Planning Limited Company has 0.51% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Northern holds 0.02% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 941,778 shares. 124 were reported by Reilly Advisors Limited Liability Co. Loomis Sayles Lp owns 257,138 shares. Morgan Stanley holds 0.01% in Beacon Roofing Supply, Inc. (NASDAQ:BECN) or 302,488 shares. California State Teachers Retirement System owns 105,297 shares for 0.01% of their portfolio.

Price T Rowe Associates Inc increased its stake in Beacon Roofing Supply Inc (NASDAQ:BECN) by 10.06% based on its latest 2018Q1 regulatory filing with the SEC. Price T Rowe Associates Inc bought 276,293 shares as the company’s stock declined 13.60% with the market. The institutional investor held 3.02 million shares of the consumer services company at the end of 2018Q1, valued at $160.39 million, up from 2.75M at the end of the previous reported quarter. Price T Rowe Associates Inc who had been investing in Beacon Roofing Supply Inc for a number of months, seems to be bullish on the $2.71B market cap company. The stock decreased 1.75% or $0.71 during the last trading session, reaching $39.85. About 738,041 shares traded. Beacon Roofing Supply, Inc. (NASDAQ:BECN) has risen 10.99% since May 23, 2017 and is uptrending. It has underperformed by 0.56% the S&P500.

Price T Rowe Associates Inc, which manages about $629.43B US Long portfolio, decreased its stake in Netflix Inc (NASDAQ:NFLX) by 4.11 million shares to 11.97 million shares, valued at $3.54B in 2018Q1, according to the filing. It also reduced its holding in Lpl Finl Hldgs Inc (NASDAQ:LPLA) by 1.04M shares in the quarter, leaving it with 22,557 shares, and cut its stake in Paypal Hldgs Inc ().

Price T Rowe Associates Inc is a Maryland-based institutional investor with more than $689.00 billion AUM in June, 2014. Price T Rowe Associates Inc is the 5th largest institutional investor in our database. Taken from Price T Rowe Associates latest Adv, the fund reported to have 2216 full and part-time employees. Among which 305 performing investment advisory and research functions. The institutional investor had more than 1300 clients.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Ratings Coverage

Among 8 analysts covering Beacon Roofing Supply (NASDAQ:BECN), 4 have Buy rating, 0 Sell and 4 Hold. Therefore 50% are positive. Beacon Roofing Supply has $73.0 highest and $60 lowest target. $68.33’s average target is 71.47% above currents $39.85 stock price. Beacon Roofing Supply had 11 analyst reports since January 3, 2018 according to SRatingsIntel. As per Friday, February 9, the company rating was maintained by Citigroup. The rating was maintained by Wedbush on Wednesday, May 9 with “Buy”. As per Thursday, May 10, the company rating was downgraded by JP Morgan. Jefferies downgraded the stock to “Hold” rating in Wednesday, May 9 report. RBC Capital Markets maintained Beacon Roofing Supply, Inc. (NASDAQ:BECN) rating on Friday, February 9. RBC Capital Markets has “Buy” rating and $66.0 target. The rating was upgraded by Wedbush on Tuesday, February 13 to “Outperform”. The firm has “Buy” rating by Seaport Global given on Thursday, January 4. The stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) earned “Hold” rating by Northcoast on Monday, May 14. The stock has “Buy” rating by Northcoast on Monday, January 8. The firm has “Buy” rating by Jefferies given on Wednesday, January 17.

Beacon Roofing Supply, Inc., together with its subsidiaries, distributes residential and non-residential roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company has market cap of $2.71 billion. The companyÂ’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 other accessories. It has a 17.04 P/E ratio. The Company’s non-residential roofing products comprise single-ply roofing, asphalt, metal, modified bitumen, and build-up roofing products; cements and coatings; flat stock and tapered insulations; commercial fasteners; metal edges and flashings; smoke/roof hatches; roofing tools; sheet metal products, including copper, aluminum, and steel; and PVC, thermoplastic olefin, and ethylene propylene diene monomer membrane products.

Another recent and important Beacon Roofing Supply, Inc. (NASDAQ:BECN) news was published by which published an article titled: “JPMorgan Sends Beacon Roofing To The ‘Penalty Box’ After Q2 Miss” on May 11, 2018.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Institutional Positions Chart

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