Rockefeller Capital Management L.P. Buys New Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Rockefeller Capital Management L.P. acquired a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,188 shares of the company's stock, valued at approximately $2,051,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BECN. HighTower Advisors LLC boosted its stake in shares of Beacon Roofing Supply by 7.3% during the 3rd 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. MML Investors Services LLC bought a new position in shares of Beacon Roofing Supply during the third quarter worth about $268,000. Barclays PLC increased its holdings in Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company's stock valued at $10,547,000 after buying an additional 89,222 shares during the last quarter. Tidal Investments LLC raised its stake in Beacon Roofing Supply by 11.8% during the third quarter. Tidal Investments LLC now owns 5,022 shares of the company's stock valued at $434,000 after buying an additional 530 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Beacon Roofing Supply by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 540,305 shares of the company's stock worth $50,443,000 after acquiring an additional 13,092 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Activity at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 16,595 shares of the firm'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 in the company, valued at approximately $57,231.43. This trade represents a 97.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Clement Munroe Best III sold 29,724 shares of the business's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the transaction, the insider now directly owns 87,943 shares of the company's stock, valued at approximately $10,821,386.15. This represents a 25.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is owned by corporate insiders.

Beacon Roofing Supply Trading Up 0.0 %

BECN traded up $0.04 during trading on Friday, reaching $124.13. The company had a trading volume of 659,534 shares, compared to its average volume of 2,121,550. The firm's 50-day simple moving average is $120.39 and its 200 day simple moving average is $110.98. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 21.22 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $124.14.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $2.43 billion. Equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BECN. Royal Bank of Canada cut Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and raised their price objective for the stock from $124.00 to $124.35 in a research note on Wednesday, April 2nd. Baird R W lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their target price for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Finally, Robert W. Baird upped 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target 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.