First Trust Advisors LP Grows Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

First Trust Advisors LP raised its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 13.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 42,179 shares of the company's stock after acquiring an additional 5,140 shares during the period. First Trust Advisors LP owned 0.07% of Beacon Roofing Supply worth $4,285,000 at the end of the most recent reporting period.

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

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $124.17 on Friday. 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 company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $124.31. The business has a 50 day simple moving average of $121.27 and a 200-day simple moving average of $112.46.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its quarterly 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 net margin of 3.86% and a return on equity of 25.32%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. As a group, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Beacon Roofing Supply

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction that occurred 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 approximately $2,765,493.88. The trade was a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the insider now directly owns 87,943 shares of the company's stock, valued at $10,821,386.15. This trade represents a 25.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,806 shares of company stock worth $6,745,448 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BECN. Stifel Nicolaus cut Beacon Roofing Supply from a "buy" rating to a "hold" rating and decreased their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Baird R W downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research report on Saturday, April 26th. They set a "sell" rating for the company. William Blair reissued a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $124.35 target price (down previously from $130.00) on shares of Beacon Roofing Supply in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $121.47.

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.

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