Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,333 shares of the company's stock after selling 4,125 shares during the period. Legal & General Group Plc owned about 0.12% of Beacon Roofing Supply worth $7,246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Beacon Roofing Supply during the 4th quarter worth $94,573,000. Raymond James Financial Inc. bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $24,162,000. Blue Grotto Capital LLC bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $23,726,000. Barclays PLC boosted its stake in shares of Beacon Roofing Supply by 272.0% during the third quarter. Barclays PLC now owns 122,024 shares of the company's stock valued at $10,547,000 after purchasing an additional 89,222 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Beacon Roofing Supply by 7.4% during the fourth quarter. Invesco Ltd. now owns 1,248,349 shares of the company's stock valued at $126,807,000 after buying an additional 86,209 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the firm'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 sale, the insider now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,806 shares of company stock worth $6,745,448. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on BECN shares. StockNews.com assumed coverage on Beacon Roofing Supply in a research report on Friday, April 18th. They set a "sell" rating on the stock. Loop Capital reaffirmed a "hold" rating and set a $124.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, March 21st. Benchmark reiterated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. BMO Capital Markets restated a "market perform" rating and issued a $124.35 price target (down from $130.00) on shares of Beacon Roofing Supply in a report on Thursday, April 17th. Finally, Raymond James lowered shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $121.47.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock traded up $0.02 during trading on Thursday, hitting $124.03. 704,867 shares of the company's stock were exchanged, compared to its average volume of 1,147,138. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 21.20 and a beta of 1.31. The business has a 50-day simple moving average of $120.39 and a 200-day simple moving average of $110.98. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $124.17. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share 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 company had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.43 billion. On average, research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current 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.