Principal Financial Group Inc. reduced its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – get rating) by 73.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The company owned 5,353 shares of the company’s stock after selling 14,600 shares during the quarter. Principal Financial Group Inc.’s interests in Beacon Roofing Supply were valued at $283,000 at the time of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently changed their positions in the company. Hsbc Holdings PLC increased its stake in Beacon Roofing Supply by 41.0% during the third quarter. Hsbc Holdings PLC now owns 16,553 shares of the company, valued at $918,000, after purchasing an additional 4,810 shares during the period. Clayton Dubilier & Rice LLC increased its stake in Beacon Roofing Supply by 0.7% in the third quarter. Clayton Dubilier & Rice LLC now owns 14,878,067 shares of the company’s stock valued at $814,128,000 after purchasing an additional 103,931 shares during the period. Natixis Advisors LP increased its stake in Beacon Roofing Supply by 124.5% during the fourth quarter. Natixis Advisors LP now owns 98,786 shares of the company’s stock valued at $5,215,000 after purchasing an additional 54,774 shares during the period. Contravisory Investment Management Inc. increased its stake in Beacon Roofing Supply by 13.0% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,384 shares of the company’s stock valued at $231,000 after purchasing an additional 506 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Beacon Roofing Supply stock by 5.7% in the third quarter. Russell Investments Group Ltd. now owns 40,412 shares of the company, valued at $2,209,000, after purchasing an additional 2,179 shares during the period.
Beacon Roofing Supply Trading up 4.9%
Shares of BECN opened at $70.07 on Wednesday. Beacon Roofing Supply, Inc. has a 1 year low of $45.71 and a 1 year high of $70.15. The company has a 50-day moving average of $61.15 and a 200-day moving average of $59.01. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 13.48 and a beta of 1.58. The company has a debt to equity ratio of 1.00, a current ratio of 2.07 and a short term ratio of 1.09.
Insider Buying and Selling at Beacon Roofing Supply
In other news from Beacon Roofing Supply, insider Clement Munroe Best III sold 1,500 shares of the company’s stock in a transaction Tuesday, May 16. The shares sold at an average price of $61.72 for a total transaction of $92,580.00. Following the transaction, the insider now owns 58,183 shares of the company’s stock, valued at approximately $3,591,054.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news from Beacon Roofing Supply, insider Clement Munroe Best III sold 1,500 shares of Beacon Roofing Supply in a transaction that took place on Tuesday, May 16th. The shares sold at an average price of $61.72 for a total transaction of $92,580.00. Following the closing of the sale, the insider now directly owns 58,183 shares of the company’s stock, valued at approximately $3,591,054.76. The sale was disclosed in a document filed with the SEC, available at this hyperlink. Also on Friday, April 28, major shareholder Cd&R Investment Associates Ix acquired 99,880 shares of the company in a transaction. The shares were acquired at an average price of $60.07 per share for a total value of $5,999,791.60. Upon completion of the purchase, the insider now owns 15,171,964 shares of the company’s stock, valued at approximately $911,379,877.48. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s shares.
Changes in analyst ratings
Several analysts have recently published reports on the company. Robert W. Baird raised his target price on Beacon Roofing Supply to $76.00 from $65.00 and gave the stock a neutral rating in a research 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. Zelman & Associates lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Friday, March 10. StockNews.com began coverage of Beacon Roofing Supply stock in a report on Thursday, May 18th. They gave the company a “hold” rating. Finally, Stephens lowered its price target on Beacon Roofing Supply shares from $70.00 to $68.00 in a report on Monday, May 8th. One research analyst has assigned a sell rating to the stock, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of Hold and an average target price 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.
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