Raymond James Financial Inc. Invests $24.16 Million in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Raymond James Financial Inc. purchased a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 237,864 shares of the company's stock, valued at approximately $24,162,000. Raymond James Financial Inc. owned approximately 0.38% of Beacon Roofing Supply as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of BECN. Equitable Trust Co. increased its position in shares of Beacon Roofing Supply by 1.7% during the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company's stock valued at $734,000 after acquiring an additional 122 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings 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 last quarter. PNC Financial Services Group Inc. raised its position in shares of 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 in the last quarter. Cornerstone Investment Partners LLC lifted its position in Beacon Roofing Supply by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company's stock valued at $480,000 after acquiring an additional 166 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock valued at $234,000 after buying an additional 181 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of Beacon Roofing Supply stock in a transaction dated 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 completion of the sale, the executive vice president now owns 463 shares in the company, valued at $57,231.43. The trade was a 97.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the company'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 sale, the insider now owns 22,642 shares of the company's stock, 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. Insiders have sold 54,806 shares of company stock valued at $6,745,448 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BECN shares. William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. BMO Capital Markets reissued a "market perform" rating and set a $124.35 price target (down previously from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday, April 17th. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research note on Friday, April 18th. They set a "sell" rating on the stock. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Finally, Baird R W lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $121.47.

Beacon Roofing Supply Price Performance

NASDAQ:BECN traded up $0.02 on Thursday, reaching $124.03. The stock had a trading volume of 795,352 shares, compared to its average volume of 1,147,390. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $124.17. The stock has a fifty day moving average price of $120.39 and a 200-day moving average price of $110.98. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $7.66 billion, a P/E ratio of 21.20 and a beta of 1.31.

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 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 net margin of 3.86% and a return on equity of 25.32%. Research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

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.