Beacon Roofing Supply, Inc. (NASDAQ:BECN) Holdings Lifted by Citigroup Inc.

Citigroup Inc. increased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1,192.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 513,692 shares of the company’s stock after acquiring an additional 473,937 shares during the period. Citigroup Inc.’s holdings in Beacon Roofing Supply were worth $44,398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after acquiring an additional 445 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Beacon Roofing Supply by 140.3% in the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after acquiring an additional 648 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after purchasing an additional 500 shares during the last quarter. Finally, Huntington National Bank lifted its stake in Beacon Roofing Supply by 14.1% during the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after purchasing an additional 206 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Trading Up 3.3 %

Shares of BECN stock opened at $112.18 on Monday. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $116.30. The company has a market capitalization of $6.94 billion, a P/E ratio of 19.18 and a beta of 1.54. The firm has a 50-day moving average price of $94.45 and a 200 day moving average price of $92.94. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the completion of the sale, the insider now owns 69,449 shares in the company, valued at $7,162,969.86. The trade was a 9.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the transaction, the insider now owns 6,531 shares of the company’s stock, valued at approximately $718,410. This represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,874 shares of company stock worth $1,812,146. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BECN has been the subject of several recent research reports. Stephens reissued an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Benchmark reissued a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Royal Bank of Canada increased their target price on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Beacon Roofing Supply Company 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.