First Trust Advisors LP increased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – get rating) by 24.7% in the fourth quarter, the company said in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,063 shares of the company after purchasing an additional 13,289 shares during the period. First Trust Advisors LP owned approximately 0.10% of Beacon Roofing Supply for $3,540,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Beacon Roofing Supply by 104.9% in the fourth quarter. Victory Capital Management Inc. now owns 21,408 shares of the company’s stock valued at $1,218,000 after purchasing an additional 10,962 shares last quarter. Premier Fund Managers Ltd bought a new position in Beacon Roofing Supply valued at approximately $52,577,000 during the fourth quarter. Raymond James & Associates increased its stake in Beacon Roofing Supply by 54.1% in the fourth quarter. Raymond James & Associates now owns 22,036 shares of the company, valued at $1,163,000, after purchasing an additional 7,736 shares last quarter. UBS Group AG increased its stake in Beacon Roofing Supply by 3,363.4% in the fourth quarter. UBS Group AG now owns 15,239 shares of the company, valued at $804,000, after purchasing an additional 14,799 shares last quarter. Finally, Thrivent Financial for Lutherans bought a new position in Beacon Roofing Supply worth approximately $874,000 during the fourth quarter.
Beacon Roofing Supply Price History
NASDAQ BECN shares opened at $66.50 on Wednesday. Beacon Roofing Supply, Inc. has a 12-month low of $45.71 and a 12-month high of $68.31. The company’s 50-day moving average price is $60.19 and its two-hundred-day moving average price is $58.70. The company has a quick ratio of 1.09, a current ratio of 2.07 and a debt to equity ratio of 1.00. The company has a market cap of $4.24 billion, a P/E of 12.79 and a beta of 1.57.
Insider Activity
Additionally, insider Clement Munroe Best III sold 1,500 shares of the company’s stock in a transaction Tuesday, May 16. The stock sold at an average price of $61.72 for a total value of $92,580.00. Following the transaction, the insider now owns 58,183 shares of the company’s stock valued at $3,591,054.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news from Beacon Roofing Supply, major shareholder Cd&R Investment Associates Ix bought 99,880 shares of the company’s stock in a transaction on Friday, April 28. The stock was purchased at an average price of $60.07 per share for a total transaction of $5,999,791.60. Upon completion of the purchase, the insider now directly owns 15,171,964 shares of the company’s stock, valued at $911,379,877.48. The acquisition was disclosed in a filing with the SEC available at this link. Also, insider Clement Munroe Best III sold 1,500 shares of the company’s stock in a transaction Tuesday, May 16. The stock sold at an average price of $61.72 for a total value of $92,580.00. Following the sale, the insider now owns 58,183 shares of the company’s stock, valued at $3,591,054.76. The disclosure for this sale can be found here. 1.30% of the shares are owned by company insiders.
Analysts set new price targets
BECN has been the subject of numerous research reports. StockNews.com began reporting on Beacon Roofing Supply in a report on Thursday, May 18th. They gave the stock a “hold” rating. Zelman & Associates downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report Friday, March 10. Robert W. Baird raised his price target on Beacon Roofing Supply to $76.00 from $65.00 and gave the stock a neutral rating in a report on Monday, February 27. TheStreet downgraded Beacon Roofing Supply from a “b” rating to a “c” rating in a report on Friday, May 5th. Finally, Stephens lowered its price target on Beacon Roofing Supply from $70.00 to $68.00 in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, six with a hold rating and two with a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $70.00.
Beacon Roofing Delivery Profile
(get rating)
Beacon Roofing Supply, Inc. is engaged in the distribution of roofing materials for residential and non-residential buildings. In addition, the company sells ancillary building products, including cladding, windows, specialty exterior building products, insulation and waterproofing systems for the exterior of buildings. The company was incorporated on August 22, 1997 and is headquartered in Herndon, VA.
further reading
Want to see what other hedge funds are holding BECN? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating).
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