Beacon Roofing Supply, Inc. (NASDAQ:BECN) Holdings Trimmed by Skylands Capital LLC

Skylands Capital LLC lowered its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 234,514 shares of the company’s stock after selling 18,025 shares during the quarter. Beacon Roofing Supply accounts for approximately 3.0% of Skylands Capital LLC’s investment portfolio, making the stock its 7th biggest holding. Skylands Capital LLC’s holdings in Beacon Roofing Supply were worth $20,407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Beacon Roofing Supply by 4.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 662,657 shares of the company’s stock worth $57,665,000 after purchasing an additional 27,185 shares during the period. Deutsche Bank AG boosted its stake in Beacon Roofing Supply by 25.2% during the third quarter. Deutsche Bank AG now owns 30,866 shares of the company’s stock valued at $2,382,000 after buying an additional 6,210 shares during the period. Teacher Retirement System of Texas boosted its stake in Beacon Roofing Supply by 80.2% during the third quarter. Teacher Retirement System of Texas now owns 26,584 shares of the company’s stock valued at $2,051,000 after buying an additional 11,828 shares during the period. Qube Research & Technologies Ltd purchased a new position in Beacon Roofing Supply during the third quarter worth about $6,442,000. Finally, Hsbc Holdings PLC increased its stake in Beacon Roofing Supply by 145.5% in the 3rd quarter. Hsbc Holdings PLC now owns 75,186 shares of the company’s stock worth $5,834,000 after acquiring an additional 44,564 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity at Beacon Roofing Supply

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

Beacon Roofing Supply Trading Down 0.4 %

Shares of Beacon Roofing Supply stock traded down $0.36 on Monday, hitting $98.64. The stock had a trading volume of 182,681 shares, compared to its average volume of 699,101. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. Beacon Roofing Supply, Inc. has a one year low of $57.01 and a one year high of $102.83. The stock’s 50-day simple moving average is $92.59 and its two-hundred day simple moving average is $85.25. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of -210.81 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last announced 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 firm 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%. Beacon Roofing Supply’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. As a group, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BECN. JPMorgan Chase & Co. lowered their target price on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th. BMO Capital Markets lifted their price objective on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Benchmark began coverage on Beacon Roofing Supply in a research report on Thursday, April 18th. They set a “buy” rating and a $135.00 price target on the stock. Finally, StockNews.com upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.92.

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.