First Trust Advisors LP Increases Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

First Trust Advisors LP raised its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 13.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,179 shares of the company's stock after buying an additional 5,140 shares during the period. First Trust Advisors LP owned about 0.07% of Beacon Roofing Supply worth $4,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BECN. SBI Securities Co. Ltd. purchased a new position in shares of Beacon Roofing Supply during the fourth quarter worth approximately $31,000. PNC Financial Services Group Inc. raised its position in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after purchasing an additional 163 shares during the period. Nomura Asset Management Co. Ltd. lifted 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 during the last quarter. Principal Securities Inc. boosted its position in Beacon Roofing Supply by 16.5% during the fourth 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 period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at about $152,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James lowered Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. Benchmark restated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Loop Capital reissued a "hold" rating and set a $124.00 price target on shares of Beacon Roofing Supply in a research report on Friday, March 21st. Finally, Zelman & Associates cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. One equities research 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 data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of "Hold" and an average price target of $124.78.

Insiders Place Their Bets

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of the firm's stock in a transaction 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 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 through the SEC website. Also, insider Clement Munroe Best III sold 29,724 shares of the company's stock in a transaction dated 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 owns 87,943 shares in the company, 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. Over the last quarter, insiders have sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply Price Performance

Shares of BECN remained flat at $124.17 on Thursday. 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. The stock has a market capitalization of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The business's 50-day moving average price is $121.79 and its 200-day moving average price is $113.05.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

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.