12 Best Industrial Distribution Stocks to Buy According to Hedge Funds

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3. Beacon Building Products (NASDAQ:BECN)

Number of Hedge Fund Holders: 47

Beacon Building Products (NASDAQ:BECN) is a provider of commercial and residential roofing, windows, decking, insulation, siding, specialty lumber, waterproofing, and air barrier systems to the North American building industry.

The firm is well positioned in the large and fragmented roofing and complementary products distribution market which provides multiple paths to growth. Beacon serves as the largest publicly traded distributor of roofing materials and complementary building products in the United States and Canada while being one of the oldest and most established distributors in the industry. The industry dynamics tend to be favorable with more than 70% of revenue driven by repair and remodel demand.

Recently, a Hold rating on Beacon Building Products (NASDAQ:BECN) was reiterated by Keith Hughes from Truist Financial. Previously on February 4, RBC Capital maintained a Buy rating on the stock and set a price target of $130.

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