Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock Position Increased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,111 shares of the company's stock after purchasing an additional 4,237 shares during the period. Price T Rowe Associates Inc. MD owned about 0.10% of Beacon Roofing Supply worth $6,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BECN. Charles Schwab Investment Management Inc. increased its stake in shares of Beacon Roofing Supply by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company's stock valued at $62,489,000 after acquiring an additional 11,426 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter worth approximately $24,162,000. Hsbc Holdings PLC boosted its stake in shares of Beacon Roofing Supply by 188.8% during the 4th quarter. Hsbc Holdings PLC now owns 26,908 shares of the company's stock worth $2,741,000 after acquiring an additional 17,591 shares in the last quarter. Barclays PLC lifted its stake in Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company's stock worth $10,547,000 after acquiring an additional 89,222 shares in the last quarter. Finally, Boston Partners lifted its stake in Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after acquiring an additional 59,630 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the transaction, the executive vice president now directly owns 463 shares of the company's stock, valued at approximately $57,231.43. The trade was a 97.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the sale, the insider now directly owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. This trade represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,806 shares of company stock valued at $6,745,448 over the last quarter. 1.30% of the stock is owned by insiders.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN remained flat at $124.17 on Tuesday. The company's 50-day simple moving average is $121.61 and its 200 day simple moving average is $112.98. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company 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 1-year low of $77.54 and a 1-year high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its 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). The company 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%. Equities analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

BECN has been the subject of several analyst reports. Raymond James downgraded shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a report on Friday, March 21st. Benchmark restated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Loop Capital reiterated a "hold" rating and set a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. Finally, StockNews.com started coverage on Beacon Roofing Supply in a research note on Sunday. They set a "sell" rating on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $124.78.

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.