Northern Trust Corp Cuts Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Northern Trust Corp decreased its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 838,062 shares of the company's stock after selling 33,283 shares during the quarter. Northern Trust Corp owned approximately 1.35% of Beacon Roofing Supply worth $85,130,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Beacon Roofing Supply during the fourth quarter worth approximately $31,000. Johnson Financial Group Inc. bought a new position in Beacon Roofing Supply in the fourth quarter worth approximately $54,000. PNC Financial Services Group Inc. increased 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 purchasing an additional 163 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after purchasing an additional 150 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock worth $140,000 after buying an additional 196 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BECN has been the topic of several research reports. Baird R W lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and increased their price objective for the company from $124.00 to $124.35 in a research note on Wednesday, April 2nd. William Blair reissued a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Finally, Loop Capital restated a "hold" rating and set a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st. One equities research 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's stock. According to data from MarketBeat, Beacon Roofing Supply has an average rating of "Hold" and an average target price of $124.78.

Insider Buying and Selling at Beacon Roofing Supply

In other news, EVP Christopher Carl Nelson sold 16,595 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the completion of the transaction, the executive vice president now directly owns 463 shares in the company, valued at $57,231.43. This trade represents a 97.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $122.14, for a total value 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. This trade represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is owned by corporate insiders.

Beacon Roofing Supply Price Performance

BECN stock remained flat at $124.17 on Friday. The firm's 50 day moving average price is $122.27 and its two-hundred day moving average price is $113.63. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $124.31. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

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.