Nexpoint Asset Management L.P. Takes Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

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

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply in the fourth quarter worth $31,000. Johnson Financial Group Inc. acquired a new position in shares of Beacon Roofing Supply during the fourth quarter valued at $54,000. PNC Financial Services Group Inc. grew its holdings in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after acquiring an additional 163 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Beacon Roofing Supply by 26.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after buying an additional 150 shares during the period. Finally, Principal Securities Inc. boosted its stake in Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock worth $140,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the sale, the insider now directly owns 22,642 shares of the company's stock, valued at $2,765,493.88. The trade was a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Clement Munroe Best III sold 29,724 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now owns 87,943 shares of the company's stock, valued at $10,821,386.15. This trade represents a 25.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock valued at $6,745,448 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Beacon Roofing Supply Stock Performance

Shares of BECN remained flat at $124.17 during mid-day trading on Tuesday. The company has a market capitalization of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $124.31. The business's fifty day moving average is $121.44 and its 200-day moving average is $112.90. 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 posted its quarterly earnings results on Thursday, February 27th. The company reported $1.65 EPS 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 business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. As a group, research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on BECN. Robert W. Baird lifted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their price target for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Zelman & Associates downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Royal Bank of Canada lowered Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lifted their price objective for the stock from $124.00 to $124.35 in a research note on Wednesday, April 2nd. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of "Hold" and an average price target of $124.78.

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.