Beacon Roofing Supply, Inc. (NASDAQ:BECN) Position Increased by Algert Global LLC

Algert Global LLC lifted its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,835 shares of the company's stock after buying an additional 21,478 shares during the period. Algert Global LLC owned approximately 0.24% of Beacon Roofing Supply worth $14,814,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BECN. Vanguard Group Inc. grew its position in Beacon Roofing Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock valued at $661,235,000 after acquiring an additional 24,027 shares in the last quarter. Boston Partners grew its holdings in Beacon Roofing Supply by 1.3% during the 4th quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after purchasing an additional 59,630 shares in the last quarter. Invesco Ltd. increased its stake in Beacon Roofing Supply by 7.4% during the 4th quarter. Invesco Ltd. now owns 1,248,349 shares of the company's stock worth $126,807,000 after buying an additional 86,209 shares during the period. Fisher Asset Management LLC lifted its holdings in Beacon Roofing Supply by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company's stock worth $103,011,000 after buying an additional 20,372 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Beacon Roofing Supply by 2.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company's stock valued at $100,076,000 after acquiring an additional 22,122 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Benchmark reissued a "buy" rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Zelman & Associates cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Robert W. Baird lifted their price target 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. Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and increased their price objective for the company from $124.00 to $124.35 in a research note on Wednesday, April 2nd. Finally, Raymond James downgraded shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $124.78.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. The trade was a 27.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Clement Munroe Best III sold 29,724 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the transaction, the insider now owns 87,943 shares in the company, valued at $10,821,386.15. This represents a 25.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,806 shares of company stock worth $6,745,448 in the last three months. 1.30% of the stock is owned by company insiders.

Beacon Roofing Supply Price Performance

NASDAQ BECN remained flat at $124.17 during trading hours 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 capitalization of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $124.31. The stock has a fifty day simple moving average of $122.01 and a 200 day simple moving average of $113.26.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current 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.