Algert Global LLC Sells 11,153 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Algert Global LLC lowered its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 8.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 124,357 shares of the company’s stock after selling 11,153 shares during the quarter. Algert Global LLC’s holdings in Beacon Roofing Supply were worth $10,748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BECN. Vanguard Group Inc. boosted its stake in Beacon Roofing Supply by 14.1% during the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after buying an additional 872,216 shares during the period. Boston Partners lifted its holdings in shares of Beacon Roofing Supply by 79.6% in the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Beacon Roofing Supply by 18.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock worth $83,239,000 after purchasing an additional 152,030 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Beacon Roofing Supply by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock valued at $52,182,000 after purchasing an additional 5,497 shares during the last quarter. Finally, WCM Investment Management LLC raised its position in Beacon Roofing Supply by 1.6% in the 3rd quarter. WCM Investment Management LLC now owns 524,985 shares of the company’s stock worth $46,052,000 after purchasing an additional 8,054 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 3.3 %

Shares of Beacon Roofing Supply stock opened at $112.18 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 19.18 and a beta of 1.54. The firm’s 50-day moving average is $93.87 and its two-hundred day moving average is $92.83. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $116.30.

Analyst Upgrades and Downgrades

BECN has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Robert W. Baird boosted 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. Finally, Stephens reaffirmed an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the transaction, the insider now owns 6,531 shares in the company, valued at $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the sale, the insider now directly owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. The trade was a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,874 shares of company stock valued at $1,812,146. Company insiders own 1.30% of the company’s stock.

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.