Beryl Capital Management LLC Purchases Shares of 54,919 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Beryl Capital Management LLC bought a new stake in shares of 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 bought 54,919 shares of the company's stock, valued at approximately $5,579,000. Beacon Roofing Supply comprises about 1.3% of Beryl Capital Management LLC's holdings, making the stock its 12th largest position. Beryl Capital Management LLC owned about 0.09% of Beacon Roofing Supply at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BECN. Bank of America Corp DE raised its holdings in shares of Beacon Roofing Supply by 253.2% in the 4th quarter. Bank of America Corp DE now owns 424,473 shares of the company's stock worth $43,118,000 after purchasing an additional 304,287 shares during the period. Ameriprise Financial Inc. grew its position in Beacon Roofing Supply by 35.8% in the fourth quarter. Ameriprise Financial Inc. now owns 972,816 shares of the company's stock worth $98,819,000 after acquiring an additional 256,466 shares in the last quarter. Algert Global LLC increased its position in shares of Beacon Roofing Supply by 17.3% during the 4th quarter. Algert Global LLC now owns 145,835 shares of the company's stock valued at $14,814,000 after purchasing an additional 21,478 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Beacon Roofing Supply during the fourth quarter worth approximately $7,146,000. Finally, Gallagher Fiduciary Advisors LLC increased its holdings in shares of Beacon Roofing Supply by 18.1% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 3,873 shares of the company's stock worth $393,000 after buying an additional 594 shares during the period. Institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Price Performance

BECN remained flat at $124.17 on Friday. The firm has a market capitalization of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $124.31. The company's 50 day moving average is $122.01 and its 200 day moving average is $113.26.

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

Insiders Place Their Bets

In related news, insider Jonathan Stuart Bennett sold 8,487 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the completion of the transaction, the insider now owns 22,642 shares of the company's stock, valued at $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 SEC, which is available at this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the transaction, the executive vice president now owns 463 shares of the company's stock, valued at approximately $57,231.43. This represents a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on BECN. Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and dropped their price target for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Loop Capital reiterated a "hold" rating and set a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st. Baird R W downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Royal Bank of Canada lowered Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $124.00 to $124.35 in a research report on Wednesday, April 2nd. Finally, Raymond James downgraded shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of "Hold" and a consensus target price of $124.78.

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.