Nexpoint Asset Management L.P. Buys Shares of 3,600 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Nexpoint Asset Management L.P. bought a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,600 shares of the company's stock, valued at approximately $366,000.

A number of other institutional investors have also recently bought and sold shares of BECN. Norges Bank purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $94,573,000. Marshall Wace LLP grew its position in Beacon Roofing Supply by 10,326.8% during the fourth quarter. Marshall Wace LLP now owns 289,866 shares of the company's stock valued at $29,445,000 after acquiring an additional 287,086 shares during the period. Raymond James Financial Inc. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth about $24,162,000. Blue Grotto Capital LLC purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth about $23,726,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $11,185,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Roofing Supply Stock Performance

Shares of BECN stock remained flat at $124.17 during trading hours on Friday. The firm has a market cap of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $124.31. The firm has a 50-day moving average of $121.27 and a 200 day moving average of $112.58. 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 issued its 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). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

BECN has been the topic of several research reports. Loop Capital restated a "hold" rating and issued a $124.00 price target on shares of Beacon Roofing Supply in a report on Friday, March 21st. Stifel Nicolaus lowered Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. BMO Capital Markets reiterated a "market perform" rating and set a $124.35 target price (down from $130.00) on shares of Beacon Roofing Supply in a report on Thursday, April 17th. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Finally, Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $121.47.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 29,724 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $123.05, for a total transaction 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. The trade was a 25.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the completion of the sale, the insider now owns 22,642 shares in the company, valued at $2,765,493.88. The trade was a 27.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is currently owned by insiders.

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.