Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,800 shares of the company’s stock after buying an additional 2,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Beacon Roofing Supply were worth $1,462,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Beacon Roofing Supply by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock valued at $434,118,000 after purchasing an additional 909,819 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Beacon Roofing Supply by 3.6% in the 2nd quarter. BlackRock Inc. now owns 3,645,889 shares of the company’s stock valued at $302,536,000 after purchasing an additional 125,602 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Beacon Roofing Supply by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after purchasing an additional 106,890 shares in the last quarter. American Century Companies Inc. lifted its position in Beacon Roofing Supply by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock worth $211,017,000 after acquiring an additional 233,393 shares in the last quarter. Finally, Morgan Stanley lifted its position in Beacon Roofing Supply by 467.9% during the 4th quarter. Morgan Stanley now owns 1,313,406 shares of the company’s stock worth $69,335,000 after acquiring an additional 1,082,141 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. BMO Capital Markets raised their price target on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. TheStreet raised shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Loop Capital raised their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Robert W. Baird raised shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $99.00 to $115.00 in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $93.92 on Thursday. The firm’s 50-day moving average is $91.18 and its 200-day moving average is $84.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. Beacon Roofing Supply, Inc. has a 1 year low of $56.94 and a 1 year high of $102.83.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 earnings per share. As a group, research analysts forecast that Beacon Roofing Supply, Inc. will post 7.85 earnings per share for the current year.

Insider Activity at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the transaction, the executive vice president now owns 176 shares of the company’s stock, valued at approximately $16,521.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the transaction, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the 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. The company 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.