Quantessence Capital LLC Takes Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Quantessence Capital LLC purchased a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,669 shares of the company's stock, valued at approximately $271,000.

A number of other large investors have also added to or reduced their stakes in BECN. Equitable Trust Co. increased its stake in Beacon Roofing Supply by 1.7% during the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company's stock valued at $734,000 after purchasing an additional 122 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after acquiring an additional 150 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Beacon Roofing Supply by 38.1% in 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 in the last quarter. Cornerstone Investment Partners LLC increased its holdings in Beacon Roofing Supply by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company's stock worth $480,000 after buying an additional 166 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock worth $234,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Stock Up 0.1 %

Shares of Beacon Roofing Supply stock traded up $0.10 during trading on Monday, hitting $124.29. 635,469 shares of the stock traded hands, compared to its average volume of 2,111,613. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $124.31. 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 firm has a market cap of $7.68 billion, a P/E ratio of 21.25 and a beta of 1.31. The stock's fifty day simple moving average is $120.59 and its 200 day simple moving average is $111.64.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly 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 company had revenue of $2.40 billion during the quarter, compared to the consensus estimate 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 analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now directly owns 463 shares of the company's stock, valued at approximately $57,231.43. This trade represents a 97.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,765,493.88. The trade was a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,806 shares of company stock valued at $6,745,448. Corporate insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BECN. Benchmark reiterated a "buy" rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Raymond James cut shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and reduced their target price for the company from $131.00 to $122.55 in a report on Friday, February 7th. Robert W. Baird lifted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Finally, William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply has a consensus rating of "Hold" and an average target price of $121.47.

About Beacon Roofing Supply

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.