Boston Partners Increases Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Boston Partners increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 64.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 715,612 shares of the company's stock after purchasing an additional 280,583 shares during the period. Boston Partners owned 1.13% of Beacon Roofing Supply worth $62,277,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BECN. Benjamin F. Edwards & Company Inc. bought a new position in Beacon Roofing Supply in the 4th quarter valued at about $36,000. Parkside Financial Bank & Trust grew its holdings in Beacon Roofing Supply by 49.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company's stock valued at $38,000 after buying an additional 161 shares in the last quarter. Headlands Technologies LLC bought a new position in Beacon Roofing Supply during the 3rd quarter worth $98,000. CI Investments Inc. acquired a new stake in shares of Beacon Roofing Supply during the third quarter worth $157,000. Finally, AlphaMark Advisors LLC bought a new stake in shares of Beacon Roofing Supply in the third quarter valued at about $244,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating in a research report on Monday, May 6th. Robert W. Baird boosted their price target on Beacon Roofing Supply from $115.00 to $117.00 and gave the company an "outperform" rating in a research note on Friday, May 3rd. Truist Financial raised their price objective on Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Friday, May 3rd. TheStreet raised Beacon Roofing Supply from a "c" rating to a "b-" rating in a report on Tuesday, February 27th. Finally, BMO Capital Markets increased their target price on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.64.

Beacon Roofing Supply Trading Up 2.9 %

BECN stock traded up $2.71 during midday trading on Tuesday, hitting $95.90. The stock had a trading volume of 604,988 shares, compared to its average volume of 712,892. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 1.47. The business has a fifty day moving average price of $94.60 and a two-hundred day moving average price of $87.08. Beacon Roofing Supply, Inc. has a 1-year low of $60.85 and a 1-year high of $103.75. The firm has a market cap of $6.10 billion, a P/E ratio of -152.22 and a beta of 1.59.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 earnings per share. On average, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.78 earnings per share for the current fiscal year.

Insider Transactions at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 1,805 shares of the company's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at approximately $1,000,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jason L. Taylor sold 1,805 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares in the company, valued at $1,000,445. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 176 shares of the company's stock, valued at approximately $16,521.12. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

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.