Seven Grand Managers LLC Acquires Shares of 37,500 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Seven Grand Managers LLC acquired a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,500 shares of the company's stock, valued at approximately $3,263,000. Beacon Roofing Supply accounts for 3.1% of Seven Grand Managers LLC's investment portfolio, making the stock its 13th largest holding. Seven Grand Managers LLC owned approximately 0.06% of Beacon Roofing Supply as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Beacon Roofing Supply by 19.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company's stock worth $434,118,000 after buying an additional 909,819 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Beacon Roofing Supply by 9.3% in the third quarter. American Century Companies Inc. now owns 2,734,447 shares of the company's stock valued at $211,017,000 after purchasing an additional 233,393 shares in the last quarter. Northern Trust Corp grew its position in shares of Beacon Roofing Supply by 1.2% in the third quarter. Northern Trust Corp now owns 821,996 shares of the company's stock valued at $63,433,000 after purchasing an additional 10,111 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Beacon Roofing Supply by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 725,527 shares of the company's stock worth $63,135,000 after purchasing an additional 39,810 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Beacon Roofing Supply by 4.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 662,657 shares of the company's stock worth $57,665,000 after purchasing an additional 27,185 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Trading Down 0.5 %

Shares of Beacon Roofing Supply stock traded down $0.43 during trading hours on Friday, reaching $92.95. The stock had a trading volume of 503,023 shares, compared to its average volume of 672,751. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of -147.54 and a beta of 1.59. Beacon Roofing Supply, Inc. has a 1 year low of $57.88 and a 1 year high of $103.75. The company has a current ratio of 1.87, a quick ratio of 1.06 and a debt-to-equity ratio of 1.47. The firm has a 50 day simple moving average of $94.45 and a two-hundred day simple moving average of $86.92.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company posted $1.18 EPS. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.78 earnings per share for the current year.

Insider Activity at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 1,805 shares of the company's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the sale, the insider now owns 10,531 shares of the company's stock, valued at $1,000,445. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at $1,000,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Carl Nelson sold 3,268 shares of the company's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the completion of the transaction, the executive vice president now owns 176 shares of the company's stock, valued at $16,521.12. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

BECN has been the topic of a number of analyst reports. TheStreet upgraded Beacon Roofing Supply from a "c" rating to a "b-" rating in a report on Tuesday, February 27th. StockNews.com lowered Beacon Roofing Supply from a "buy" rating to a "hold" rating in a research note on Monday, May 6th. Robert W. Baird raised their target price on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an "outperform" rating in a research report on Friday, May 3rd. Truist Financial boosted their price target on Beacon Roofing Supply from $90.00 to $95.00 and gave the company a "hold" rating in a report on Friday, May 3rd. Finally, Benchmark assumed coverage on Beacon Roofing Supply in a report on Thursday, April 18th. They set a "buy" rating and a $135.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply currently has an average rating of "Moderate Buy" and an average price target of $107.64.

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.