Diker Management adds Beacon Roofing Supply (BECN) to its portfolio

Beacon Roofing Supply (BECN) : Diker Management added new position in Beacon Roofing Supply during the most recent quarter end. The investment management firm now holds 65,000 shares of Beacon Roofing Supply which is valued at $2,975,700 , the company said in a statement filed on Aug 15, 2016 with the SEC.Beacon Roofing Supply makes up approximately 1.09% of Diker Management’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc reduced its stake in BECN by selling 37,735 shares or 26.81% in the most recent quarter. The Hedge Fund company now holds 103,022 shares of BECN which is valued at $4,716,347. Beacon Roofing Supply makes up approx 0.02% of Envestnet Asset Management Inc’s portfolio.Cupps Capital Management boosted its stake in BECN in the latest quarter, The investment management firm added 13,883 additional shares and now holds a total of 127,998 shares of Beacon Roofing Supply which is valued at $5,859,748. Beacon Roofing Supply makes up approx 1.40% of Cupps Capital Management’s portfolio.Swiss National Bank boosted its stake in BECN in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 82,200 shares of Beacon Roofing Supply which is valued at $3,820,656. Beacon Roofing Supply makes up approx 0.01% of Swiss National Bank’s portfolio.Rmb Capital Management reduced its stake in BECN by selling 2,160 shares or 6.62% in the most recent quarter. The Hedge Fund company now holds 30,450 shares of BECN which is valued at $1,415,316. Beacon Roofing Supply makes up approx 0.10% of Rmb Capital Management’s portfolio. Vigilant Capital Management added BECN to its portfolio by purchasing 116 company shares during the most recent quarter which is valued at $5,582.

Beacon Roofing Supply closed down -0.19 points or -0.41% at $45.79 with 3,85,416 shares getting traded on Thursday. Post opening the session at $46.09, the shares hit an intraday low of $45.19 and an intraday high of $46.09 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Beacon Roofing Supply reported $0.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.76. The company had revenue of $1152.70 million for the quarter, compared to analysts expectations of $1152.64 million. The company’s revenue was up 60.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Beacon Roofing Supply. Jefferies Initiated Beacon Roofing Supply on Jul 6, 2016 to “Hold”, Price Target of the shares are set at $46.BB&T Capital Mkts Upgraded Beacon Roofing Supply on Jun 10, 2016 to ” Buy”, Price Target of the shares are set at $51.

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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