Fifth Lane Capital LP Invests $264,000 in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Fifth Lane Capital LP bought a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,600 shares of the company's stock, valued at approximately $264,000. Beacon Roofing Supply makes up about 0.8% of Fifth Lane Capital LP's holdings, making the stock its 20th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in BECN. Vanguard Group Inc. lifted its holdings in shares of Beacon Roofing Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock valued at $661,235,000 after purchasing an additional 24,027 shares in the last quarter. Boston Partners boosted its position in Beacon Roofing Supply by 1.3% during the 4th 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 during the period. Invesco Ltd. grew 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 valued at $126,807,000 after acquiring an additional 86,209 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Beacon Roofing Supply by 2.1% in the 4th 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 during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Beacon Roofing Supply by 2.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company's stock worth $100,076,000 after purchasing an additional 22,122 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction on Monday, April 7th. The stock was 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 of the company's stock, valued at $2,765,493.88. The trade was a 27.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now owns 463 shares in the company, valued at $57,231.43. The trade was a 97.29 % 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 valued at $6,745,448. 1.30% of the stock is owned by corporate insiders.

Beacon Roofing Supply Stock Performance

BECN remained flat at $124.17 during mid-day trading on Monday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31. The stock's fifty day simple moving average is $121.27 and its 200-day simple moving average is $112.70. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (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 during the quarter, compared to analyst estimates of $2.43 billion. Sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BECN shares. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Sunday. They issued a "sell" rating on the stock. Raymond James downgraded shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a report on Friday, March 21st. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Finally, Robert W. Baird lifted 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 note on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Beacon Roofing Supply has a consensus rating of "Hold" and a consensus price target of $124.78.

About Beacon Roofing Supply

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.