Forum Financial Management LP Takes Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Forum Financial Management LP bought a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,202 shares of the company's stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in shares of Beacon Roofing Supply by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock valued at $234,000 after acquiring an additional 181 shares in the last quarter. MML Investors Services LLC acquired a new position in shares of Beacon Roofing Supply during the third quarter worth about $268,000. Barclays PLC boosted its position in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company's stock worth $10,547,000 after buying an additional 89,222 shares during the period. Tidal Investments LLC raised its holdings in shares of Beacon Roofing Supply by 11.8% during the 3rd quarter. Tidal Investments LLC now owns 5,022 shares of the company's stock valued at $434,000 after buying an additional 530 shares during the period. Finally, Franklin Resources Inc. lifted its position in Beacon Roofing Supply by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 540,305 shares of the company's stock worth $50,443,000 after acquiring an additional 13,092 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 29,724 shares of the company's stock in a transaction dated Friday, April 4th. The shares were 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 owns 87,943 shares in the company, valued at approximately $10,821,386.15. This represents a 25.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Carl Nelson sold 16,595 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the sale, the executive vice president now directly owns 463 shares in the company, valued at approximately $57,231.43. This trade represents a 97.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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 Stock Performance

Beacon Roofing Supply stock traded up $0.10 during mid-day trading on Monday, reaching $124.29. The company's stock had a trading volume of 536,201 shares, compared to its average volume of 1,155,558. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 21.25 and a beta of 1.31. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $124.84. The business has a 50 day moving average price of $120.59 and a 200-day moving average price of $111.64. 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 (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. Sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BECN. William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Benchmark reaffirmed a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Raymond James cut shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada lowered Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lifted their target price for the stock from $124.00 to $124.35 in a research report on Wednesday, April 2nd. Finally, Baird R W downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply currently has a consensus rating of "Hold" and a consensus price target of $121.47.

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.