Algert Global LLC Grows Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Algert Global LLC lifted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 17.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 145,835 shares of the company's stock after purchasing an additional 21,478 shares during the quarter. Algert Global LLC owned about 0.24% of Beacon Roofing Supply worth $14,814,000 as of its most recent filing with the SEC.

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

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $124.17 on Friday. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $124.31. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a market cap of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The business's 50 day moving average is $121.27 and its two-hundred day moving average is $112.58.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on BECN. StockNews.com started coverage on Beacon Roofing Supply in a report on Sunday. They set a "sell" rating on the stock. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and decreased their target price for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lifted their price target for the stock from $124.00 to $124.35 in a research note on Wednesday, April 2nd. Loop Capital reiterated a "hold" rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. Finally, Benchmark restated a "buy" rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. One 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $124.78.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 29,724 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now directly owns 87,943 shares of the company's stock, valued at $10,821,386.15. This trade represents a 25.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Carl Nelson sold 16,595 shares of the business'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 transaction, the executive vice president now directly owns 463 shares of the company's stock, valued at approximately $57,231.43. This trade represents a 97.29 % 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 over the last quarter. 1.30% of the stock is owned by company insiders.

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.

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