Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 69.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 68,757 shares of the company's stock after selling 154,881 shares during the quarter. Renaissance Technologies LLC owned 0.11% of Beacon Roofing Supply worth $6,984,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Beacon Roofing Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock worth $661,235,000 after purchasing an additional 24,027 shares in the last quarter. Boston Partners boosted its holdings in shares of Beacon Roofing Supply by 1.3% in the 4th quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after buying an additional 59,630 shares in the last quarter. Invesco Ltd. grew its position in shares of Beacon Roofing Supply by 7.4% in the 4th quarter. Invesco Ltd. now owns 1,248,349 shares of the company's stock valued at $126,807,000 after buying an additional 86,209 shares during the last quarter. Fisher Asset Management LLC raised its stake in Beacon Roofing Supply by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company's stock worth $103,011,000 after acquiring an additional 20,372 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Beacon Roofing Supply by 2.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company's stock valued at $100,076,000 after acquiring an additional 22,122 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BECN. Raymond James cut Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their target price for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. BMO Capital Markets reiterated 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. Robert W. Baird increased their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lifted their price target for the stock from $124.00 to $124.35 in a report on Wednesday, April 2nd. 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 company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $121.47.

Beacon Roofing Supply Trading Up 0.0 %

Shares of NASDAQ BECN traded up $0.02 during midday trading on Thursday, hitting $124.03. The stock had a trading volume of 795,352 shares, compared to its average volume of 1,147,390. The company has a fifty day moving average price of $120.39 and a 200 day moving average price of $110.98. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 21.20 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $124.17. 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 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 during the quarter, compared to analysts' expectations of $2.43 billion. On average, analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 16,595 shares of Beacon Roofing Supply 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 completion of the sale, the executive vice president now owns 463 shares in the company, valued at approximately $57,231.43. The trade was a 97.29 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the transaction, the insider now owns 22,642 shares in the company, valued at $2,765,493.88. This trade represents 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.

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.