CastleKnight Management LP Raises Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

CastleKnight Management LP increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,100 shares of the company's stock after acquiring an additional 3,200 shares during the period. CastleKnight Management LP's holdings in Beacon Roofing Supply were worth $2,956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Beacon Roofing Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock worth $661,235,000 after purchasing an additional 24,027 shares during the last quarter. Boston Partners lifted its holdings in Beacon Roofing Supply by 1.3% during the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock worth $462,417,000 after acquiring an additional 59,630 shares in the last quarter. Invesco Ltd. increased its stake in Beacon Roofing Supply by 7.4% during the 4th quarter. Invesco Ltd. now owns 1,248,349 shares of the company's stock worth $126,807,000 after purchasing an additional 86,209 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of 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 in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Beacon Roofing Supply by 2.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company's stock valued at $100,076,000 after buying an additional 22,122 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. This represents a 27.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the sale, the insider now owns 87,943 shares of the company's stock, valued at approximately $10,821,386.15. The trade was a 25.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock valued at $6,745,448 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BECN has been the subject of a number of recent analyst reports. Baird R W cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Benchmark restated a "buy" rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. StockNews.com started coverage on Beacon Roofing Supply in a research note on Sunday, May 4th. They issued a "sell" rating on the stock. Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their price target for the company from $131.00 to $122.55 in a report on Friday, February 7th. Finally, Raymond James downgraded Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Beacon Roofing Supply currently has a consensus rating of "Hold" and an average target price of $124.78.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock remained flat at $124.17 during mid-day trading on Friday. The company's fifty day moving average is $122.27 and its 200-day moving average is $113.63. The company has a quick ratio of 1.14, a current ratio of 1.91 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. 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 issued its quarterly 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). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. As a group, equities analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share 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.