Teachers Advisors LLC increased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,412 shares of the company’s stock after acquiring an additional 2,048 shares during the period. Teachers Advisors LLC owned about 0.21% of Beacon Roofing Supply worth $5,262,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Advisors Asset Management Inc. boosted its holdings in shares of Beacon Roofing Supply by 1,809.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 61,196 shares of the company’s stock valued at $119,000 after acquiring an additional 57,991 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Beacon Roofing Supply in the second quarter valued at about $226,000. Bank of New York Mellon Corp raised its position in shares of Beacon Roofing Supply by 47.3% in the second quarter. Bank of New York Mellon Corp now owns 1,628,136 shares of the company’s stock valued at $69,392,000 after buying an additional 522,722 shares during the last quarter. Bank of Montreal Can raised its position in shares of Beacon Roofing Supply by 9.7% in the third quarter. Bank of Montreal Can now owns 22,671 shares of the company’s stock valued at $821,000 after buying an additional 2,004 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its position in shares of Beacon Roofing Supply by 189.6% in the third quarter. Peregrine Capital Management LLC now owns 551,938 shares of the company’s stock valued at $19,975,000 after buying an additional 361,373 shares during the last quarter.
Beacon Roofing Supply stock opened at $35.05 on Tuesday. Beacon Roofing Supply, Inc. has a 12-month low of $24.97 and a 12-month high of $57.19. The stock has a market cap of $2.31 billion, a P/E ratio of 12.98, a PEG ratio of 0.58 and a beta of 1.42. The company has a quick ratio of 0.97, a current ratio of 1.59 and a debt-to-equity ratio of 1.38.
BECN has been the subject of a number of recent research reports. BidaskClub cut shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Friday, October 19th. Raymond James set a $45.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Thursday, October 25th. Wells Fargo & Co cut their price objective on shares of Beacon Roofing Supply from $33.00 to $25.00 and set an “underperform” rating for the company in a research report on Thursday, November 15th. Robert W. Baird restated a “hold” rating and set a $29.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 20th. Finally, Wedbush set a $30.00 price objective on shares of Beacon Roofing Supply and gave the stock an “outperform” rating in a research report on Tuesday, November 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $40.44.
In related news, EVP Christopher Anthony Harrison bought 4,750 shares of the stock in a transaction on Wednesday, November 21st. The stock was bought at an average price of $31.40 per share, with a total value of $149,150.00. Following the completion of the purchase, the executive vice president now directly owns 19,280 shares in the company, valued at approximately $605,392. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul Isabella bought 3,200 shares of the stock in a transaction on Wednesday, November 21st. The shares were bought at an average cost of $31.76 per share, with a total value of $101,632.00. Following the purchase, the chief executive officer now owns 143,459 shares of the company’s stock, valued at $4,556,257.84. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 23,625 shares of company stock valued at $753,469. 1.20% of the stock is currently owned by insiders.
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Beacon Roofing Supply Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.
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