Voya Investment Management LLC Has $1.88 Million Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Voya Investment Management LLC decreased its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,524 shares of the company's stock after selling 2,227 shares during the period. Voya Investment Management LLC's holdings in Beacon Roofing Supply were worth $1,882,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply in the 4th quarter valued at approximately $31,000. PNC Financial Services Group Inc. increased its holdings in shares of Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after buying an additional 163 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Beacon Roofing Supply by 26.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after purchasing an additional 150 shares in the last quarter. Principal Securities Inc. increased its position in Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after acquiring an additional 196 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at $152,000. Institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BECN shares. Robert W. Baird boosted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. BMO Capital Markets reiterated a "market perform" rating and issued a $124.35 price target (down from $130.00) on shares of Beacon Roofing Supply in a research report on Thursday, April 17th. Raymond James lowered Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Royal Bank of Canada lowered shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and raised their price target for the stock from $124.00 to $124.35 in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $124.78.

Beacon Roofing Supply Price Performance

NASDAQ:BECN remained flat at $124.17 during trading hours on Tuesday. The stock has a market cap of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The business has a fifty day simple moving average of $121.61 and a 200 day simple moving average of $112.98. 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 52 week low of $77.54 and a 52 week high of $124.31.

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). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 22,642 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 29,724 shares of the stock in a transaction that occurred 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 owns 87,943 shares in the company, valued at $10,821,386.15. The trade was a 25.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is owned by corporate insiders.

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.