Wedge Capital Management LLP NC cut its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 3.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The company owned 149,446 shares of the company’s stock after selling 4,770 shares during the period. Wedge Capital Management LLP NC owned approximately 0.23% of Beacon Roofing Supply valued at $7,889,000 at the end of the most recent quarter.
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A number of other institutional investors have also bought and sold shares in the company. First Manhattan Co. increased its stake in Beacon Roofing Supply by 4.3% in the first quarter. First Manhattan Co. now owns 5,633 shares of the company’s stock valued at $333,000, having purchased an additional 233 shares during this period. AlphaCrest Capital Management LLC increased its stake in Beacon Roofing Supply by 4.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock valued at $419,000 after purchasing an additional 273 shares during the period. Advisor Group Holdings Inc. increased its stake in Beacon Roofing Supply by 37.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Beacon Roofing Supply by 23.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,633 shares of the company, valued at $87,000, after buying another 309 shares last quarter. Finally, Laurel Wealth Advisors Inc. increased its position in shares of Beacon Roofing Supply by 3.0% during the first quarter. Laurel Wealth Advisors Inc. now owns 10,930 shares of the company’s stock valued at $648,000 after purchasing an additional 322 shares last quarter.
Insider Transactions at Beacon Roofing Supply
In addition, major shareholder Cd&R Investment Associates Ix acquired 107,185 shares of the company’s shares in a transaction that took place on Monday, January 30th. The shares were purchased at an average price of $55.98 per share for a total transaction of $6,000,216.30. Following the acquisition, the insider now owns 15,072,084 shares of the company’s stock valued at approximately $843,735,262.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Company insiders own 0.95% of the company’s shares.
Beacon roofing supply stock down 0.8%
NASDAQ BECN opened at $56.44 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.03 and a debt to equity ratio of 1.01. Beacon Roofing Supply, Inc. has a 52-week low of $45.71 and a 52-week high of $68.31. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 10.15 and a beta of 1.58. The company has a fifty-day moving average of $59.49 and a two-hundred-day moving average of $56.97.
Analysts set new price targets
BECN has been the subject of a number of research reports. Stifel Nicolaus increased his price target on Beacon Roofing Supply shares to $91.00 from $80.00 and gave the stock a “buy” rating in a research report on Monday, December 19. StockNews.com began coverage of Beacon Roofing Supply in a report on Thursday, March 16th. They give the company 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 increased his target price on Beacon Roofing Supply to $76.00 from $65.00 and gave the company a neutral rating in a research note on Monday, February 27. Finally, Deutsche Bank Aktiengesellschaft increased its price target for shares of Beacon Roofing Supply to $85.00 from $81.00 and gave the stock a buy rating in a research report on Monday, February 27. One analyst has rated the stock with a sell rating, seven 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 a consensus rating of Hold and a consensus price target of $70.57.
Beacon Roofing Supply Company Profile
(received rating)
Beacon Roofing Supply, Inc is engaged in the distribution of roofing materials for residential and non-residential buildings. It also sells ancillary building products, including siding, 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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