Voya Investment Management LLC Sells 2,227 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Voya Investment Management LLC reduced its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BECN. SBI Securities Co. Ltd. bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $31,000. PNC Financial Services Group Inc. lifted its holdings in shares of Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after purchasing an additional 163 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after buying an additional 150 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after buying an additional 196 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Beacon Roofing Supply during the fourth quarter worth $152,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Price Performance

Shares of BECN stock remained flat at $124.17 during trading hours on Friday. The business's 50-day moving average is $122.01 and its 200-day moving average is $113.26. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month 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 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.43 billion. As a group, analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 29,724 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the completion of the transaction, the insider now directly owns 87,943 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BECN. Royal Bank of Canada lowered Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and upped their price target for the stock from $124.00 to $124.35 in a report on Wednesday, April 2nd. Loop Capital reiterated a "hold" rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Robert W. Baird increased their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. 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. Finally, StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research report on Sunday, May 4th. They set a "sell" rating on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.