Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 7.8% in the third quarter, Holdings Channel.com reports. The fund owned 18,795 shares of the company’s stock after selling 1,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Beacon Roofing Supply were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Beacon Roofing Supply during the first quarter worth about $26,000. PNC Financial Services Group Inc. grew its stake in Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after buying an additional 203 shares during the last quarter. Quarry LP increased its position in Beacon Roofing Supply by 127.1% during the fourth quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after buying an additional 225 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Beacon Roofing Supply by 28.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after buying an additional 116 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in shares of Beacon Roofing Supply by 140.3% in the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after acquiring an additional 648 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the sale, the insider now directly owns 9,131 shares in the company, valued at approximately $821,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the transaction, the insider now owns 9,131 shares in the company, valued at $821,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christopher Carl Nelson sold 1,627 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $85.00, for a total transaction of $138,295.00. Following the sale, the executive vice president now directly owns 320 shares in the company, valued at approximately $27,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BECN has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Robert W. Baird dropped their price objective on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Stephens decreased their target price on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and a consensus price target of $111.30.

Beacon Roofing Supply Trading Down 3.9 %

Shares of Beacon Roofing Supply stock opened at $90.78 on Friday. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of -144.10 and a beta of 1.55. Beacon Roofing Supply, Inc. has a 52-week low of $68.50 and a 52-week high of $105.42. The company’s 50-day simple moving average is $86.22 and its 200-day simple moving average is $92.72. The company has a quick ratio of 1.09, a current ratio of 1.90 and a debt-to-equity ratio of 1.75.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.66 EPS. As a group, equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.39 earnings per share for the current year.

Beacon Roofing Supply 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.