Alyeska Investment Group L.P. Buys New Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Alyeska Investment Group L.P. purchased a new stake 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 and Exchange Commission. The firm purchased 70,349 shares of the company's stock, valued at approximately $7,146,000. Alyeska Investment Group L.P. owned approximately 0.11% of Beacon Roofing Supply as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Barclays PLC raised its position in Beacon Roofing Supply by 272.0% during the third quarter. Barclays PLC now owns 122,024 shares of the company's stock valued at $10,547,000 after purchasing an additional 89,222 shares in the last quarter. Tidal Investments LLC lifted its position in Beacon Roofing Supply by 11.8% in the 3rd quarter. Tidal Investments LLC now owns 5,022 shares of the company's stock worth $434,000 after buying an additional 530 shares during the last quarter. Franklin Resources Inc. boosted its stake in Beacon Roofing Supply by 2.5% in the third quarter. Franklin Resources Inc. now owns 540,305 shares of the company's stock worth $50,443,000 after buying an additional 13,092 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Beacon Roofing Supply by 16.3% during the third quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company's stock worth $30,849,000 after acquiring an additional 49,902 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Beacon Roofing Supply in the 4th quarter worth approximately $210,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Activity

In other news, EVP Christopher Carl Nelson sold 16,595 shares of the company's 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 in the company, valued at approximately $57,231.43. This represents a 97.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 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 position. 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. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. BMO Capital Markets reissued a "market perform" rating and issued a $124.35 price target (down from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday, April 17th. Stifel Nicolaus lowered Beacon Roofing Supply from a "buy" rating to a "hold" rating and reduced their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Zelman & Associates cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Finally, StockNews.com started coverage on shares of Beacon Roofing Supply in a research report on Sunday, May 4th. They issued a "sell" rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Beacon Roofing Supply has an average rating of "Hold" and a consensus price target of $124.78.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN remained flat at $124.17 during mid-day trading on Friday. The stock has a market capitalization of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. The firm's 50 day moving average is $122.27 and its 200-day moving average is $113.63. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $124.31. 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 (NASDAQ:BECN - Get Free Report) last announced its 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). The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS 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.