Schonfeld Strategic Advisors LLC Makes New $10.09 Million Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Schonfeld Strategic Advisors LLC purchased a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 99,278 shares of the company's stock, valued at approximately $10,085,000. Schonfeld Strategic Advisors LLC owned 0.16% of Beacon Roofing Supply at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BECN. Charles Schwab Investment Management Inc. grew its holdings in Beacon Roofing Supply by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company's stock valued at $62,489,000 after buying an additional 11,426 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Beacon Roofing Supply in the 4th quarter valued at about $11,185,000. Raymond James Financial Inc. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $24,162,000. Barclays PLC raised its position in shares of Beacon Roofing Supply by 272.0% during the 3rd 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 period. Finally, Boston Partners increased its stake in Beacon Roofing Supply by 1.3% during the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock worth $462,417,000 after acquiring an additional 59,630 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

BECN has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and reduced their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Finally, StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $124.78.

Beacon Roofing Supply Price Performance

BECN remained flat at $124.17 on Tuesday. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $124.31. The stock has a 50 day simple moving average of $121.44 and a two-hundred day simple moving average of $112.90. 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 firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly 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 business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling

In related news, insider Clement Munroe Best III sold 29,724 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $123.05, for a total value of $3,657,538.20. Following the transaction, the insider now directly owns 87,943 shares in the company, valued at $10,821,386.15. This represents a 25.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $1,036,602.18. Following the completion of the sale, the insider now owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,806 shares of company stock valued at $6,745,448 over the last three months. 1.30% of the stock is owned by corporate insiders.

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.