Coe Capital Management buys $6.6 Million stake in Beacon Roofing Supply (BECN)

Beacon Roofing Supply (BECN) : Coe Capital Management scooped up 115,438 additional shares in Beacon Roofing Supply during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 156,657 shares of Beacon Roofing Supply which is valued at $6.6 Million.Beacon Roofing Supply makes up approximately 2.13% of Coe Capital Management’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds boosted its stake in BECN in the latest quarter, The investment management firm added 154,620 additional shares and now holds a total of 484,833 shares of Beacon Roofing Supply which is valued at $20.6 Million. Beacon Roofing Supply makes up approx 0.03% of Oppenheimerfunds’s portfolio. Ridgeworth Capital Management added BECN to its portfolio by purchasing 14,164 company shares during the most recent quarter which is valued at $600,695. Beacon Roofing Supply makes up approx 0.01% of Ridgeworth Capital Management’s portfolio.Bbva Compass Bancshares Inc reduced its stake in BECN by selling 449 shares or 5.52% in the most recent quarter. The Hedge Fund company now holds 7,679 shares of BECN which is valued at $332,194. Beacon Roofing Supply makes up approx 0.03% of Bbva Compass Bancshares Inc’s portfolio.Arcadia Investment Management Corpmi reduced its stake in BECN by selling 17,735 shares or 13.04% in the most recent quarter. The Hedge Fund company now holds 118,250 shares of BECN which is valued at $5.1 Million. Beacon Roofing Supply makes up approx 1.67% of Arcadia Investment Management Corpmi’s portfolio.Clarivest Asset Management boosted its stake in BECN in the latest quarter, The investment management firm added 69,410 additional shares and now holds a total of 96,717 shares of Beacon Roofing Supply which is valued at $4.1 Million. Beacon Roofing Supply makes up approx 0.13% of Clarivest Asset Management’s portfolio.

Beacon Roofing Supply opened for trading at $41.67 and hit $42.4 on the upside on Friday, eventually ending the session at $42.25, with a gain of 2.18% or 0.9 points. The heightened volatility saw the trading volume jump to 6,61,789 shares. Company has a market cap of $2,517,213 M.

On the company’s financial health, Beacon Roofing Supply reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on May 2, 2016. Analyst had a consensus of $-0.22. The company had revenue of $823.50 million for the quarter, compared to analysts expectations of $673.44 million. The company’s revenue was up 99.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.20 EPS.

Beacon Roofing Supply Inc. is engaged in distributing residential and non-residential roofing materials in the United States and Canada. The Company also distributes other complementary building materials including siding windows specialty lumber products and waterproofing systems for residential and nonresidential building exteriors. As of September 30 2013 the Company operated 236 branches in 39 states and six Canadian provinces carrying up to 11000 stock keeping units (SKUs). It is a distributor of roofing materials in metropolitan markets in the Northeast Mid-Atlantic Midwest Central Plains West South and Southwest regions of the United States and across Canada. The Company’s customer base consists of more than 47000 contractors home builders building owners and other resellers primarily in the Northeast Mid-Atlantic Midwest Central Plains West South and Southwest regions of the United States and across Canada.

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