54,919 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Purchased by Beryl Capital Management LLC

Beryl Capital Management LLC acquired a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 54,919 shares of the company's stock, valued at approximately $5,579,000. Beacon Roofing Supply accounts for about 1.3% of Beryl Capital Management LLC's portfolio, making the stock its 12th largest position. Beryl Capital Management LLC owned 0.09% of Beacon Roofing Supply as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BECN. SBI Securities Co. Ltd. bought a new stake in shares of Beacon Roofing Supply in the 4th quarter worth approximately $31,000. Johnson Financial Group Inc. purchased a new position in shares of Beacon Roofing Supply during the 4th quarter valued at $54,000. PNC Financial Services Group Inc. grew its stake in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after acquiring an additional 163 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after acquiring an additional 150 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after acquiring an additional 196 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BECN shares. Loop Capital reissued a "hold" rating and set a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st. BMO Capital Markets restated a "market perform" rating and issued a $124.35 target price (down previously from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday, April 17th. Benchmark reiterated a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Raymond James lowered shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $124.78.

Insiders Place Their Bets

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $122.14, for a total value of $1,036,602.18. Following the transaction, the insider now owns 22,642 shares in the company, valued at approximately $2,765,493.88. This trade represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now owns 463 shares of the company's stock, valued at $57,231.43. This represents a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,806 shares of company stock valued at $6,745,448 over the last three months. Insiders own 1.30% of the company's stock.

Beacon Roofing Supply Price Performance

BECN opened at $124.17 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. The stock has a 50-day moving average price of $121.27 and a 200-day moving average price of $112.58. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Equities analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

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.

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