Iridian Asset Management LLC CT Sells 24,055 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Iridian Asset Management LLC CT decreased its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 28.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,658 shares of the company’s stock after selling 24,055 shares during the quarter. Beacon Roofing Supply accounts for approximately 1.6% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 20th largest position. Iridian Asset Management LLC CT owned 0.10% of Beacon Roofing Supply worth $6,060,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. US Bancorp DE raised its holdings in shares of Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after buying an additional 116 shares in the last quarter. Equitable Trust Co. raised its stake in Beacon Roofing Supply by 2.2% during the third quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock worth $614,000 after acquiring an additional 156 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock worth $234,000 after acquiring an additional 181 shares during the last quarter. Quarry LP boosted its stake in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Beacon Roofing Supply by 14.1% during the 3rd 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 and hedge funds.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the sale, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. This trade represents a 28.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.

Beacon Roofing Supply Stock Up 1.3 %

Beacon Roofing Supply stock opened at $120.50 on Friday. The firm has a 50 day moving average price of $109.34 and a two-hundred day moving average price of $98.37. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $121.42. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 20.60 and a beta of 1.62.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BECN. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their target price for the company from $131.00 to $122.55 in a research report on Friday. Royal Bank of Canada raised their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stephens reaffirmed an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. BMO Capital Markets increased their target price on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Finally, Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $120.17.

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.