Hsbc Holdings PLC Boosts Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Hsbc Holdings PLC lifted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 188.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,908 shares of the company's stock after purchasing an additional 17,591 shares during the period. Hsbc Holdings PLC's holdings in Beacon Roofing Supply were worth $2,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BECN. Barclays PLC increased its position in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company's stock valued at $10,547,000 after buying an additional 89,222 shares in the last quarter. Tidal Investments LLC increased its holdings 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 acquiring an additional 530 shares in the last quarter. Franklin Resources Inc. raised its position in Beacon Roofing Supply by 2.5% during the third quarter. Franklin Resources Inc. now owns 540,305 shares of the company's stock worth $50,443,000 after acquiring an additional 13,092 shares during the period. JPMorgan Chase & Co. lifted its holdings in Beacon Roofing Supply by 16.3% during the third quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company's stock valued at $30,849,000 after purchasing an additional 49,902 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at about $210,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Buying and Selling

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of Beacon Roofing Supply stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 463 shares in the company, valued at $57,231.43. This trade represents a 97.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was 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 in the company, valued at approximately $2,765,493.88. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,806 shares of company stock worth $6,745,448. Company insiders own 1.30% of the company's stock.

Beacon Roofing Supply Stock Performance

Shares of BECN stock remained flat at $124.17 on Tuesday. 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 has a 50-day simple moving average of $121.44 and a 200-day simple moving average of $112.90. The firm has a market cap of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its earnings results 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). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates 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, sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BECN shares. Robert W. Baird upped 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 report on Friday, February 28th. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Zelman & Associates lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. StockNews.com began coverage on Beacon Roofing Supply in a research note on Sunday. They issued a "sell" rating for the company. Finally, Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $124.78.

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.