Russell Investments Group Ltd. raised its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 104.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,169 shares of the company’s stock after acquiring an additional 44,534 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of Beacon Roofing Supply worth $5,130,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Eagle Asset Management Inc. lifted its holdings in Beacon Roofing Supply by 3.6% in the first quarter. Eagle Asset Management Inc. now owns 140,237 shares of the company’s stock valued at $8,252,000 after acquiring an additional 4,935 shares during the period. Acrisure Capital Management LLC acquired a new position in Beacon Roofing Supply in the fourth quarter valued at approximately $506,000. Clayton Dubilier & Rice LLC lifted its holdings in Beacon Roofing Supply by 0.7% in the first quarter. Clayton Dubilier & Rice LLC now owns 15,094,980 shares of the company’s stock valued at $888,340,000 after acquiring an additional 111,593 shares during the period. Great Lakes Advisors LLC lifted its holdings in Beacon Roofing Supply by 2.4% in the fourth quarter. Great Lakes Advisors LLC now owns 186,485 shares of the company’s stock valued at $9,845,000 after acquiring an additional 4,325 shares during the period. Finally, Caprock Group LLC acquired a new position in Beacon Roofing Supply in the first quarter valued at approximately $507,000.
Insider Buying and Selling at Beacon Roofing Supply
In other Beacon Roofing Supply news, Director Stuart A. Randle sold 10,299 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $72.43, for a total value of $745,956.57. Following the completion of the sale, the director now directly owns 31,417 shares in the company, valued at approximately $2,275,533.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 8,611 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $72.95, for a total value of $628,172.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stuart A. Randle sold 10,299 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $72.43, for a total value of $745,956.57. Following the completion of the transaction, the director now directly owns 31,417 shares in the company, valued at approximately $2,275,533.31. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Loop Capital boosted their price objective on Beacon Roofing Supply from $76.00 to $84.00 in a research report on Friday, June 9th. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $76.00 to $95.00 in a research report on Monday, July 10th. Jefferies Financial Group boosted their price objective on Beacon Roofing Supply from $75.00 to $88.00 and gave the company a “hold” rating in a research report on Thursday, July 13th. Truist Financial boosted their price objective on Beacon Roofing Supply from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, StockNews.com cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $86.80.
Read Our Latest Analysis on BECN
Beacon Roofing Supply Stock Down 0.3 %
Shares of NASDAQ:BECN opened at $78.38 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.69 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $82.41 and a two-hundred day moving average of $68.91. The stock has a market cap of $4.95 billion, a P/E ratio of 15.52, a PEG ratio of 1.73 and a beta of 1.65. Beacon Roofing Supply, Inc. has a 52-week low of $50.42 and a 52-week high of $87.46.
Beacon Roofing Supply Profile
(Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in 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. It 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.
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