Wolverine Asset Management LLC Has $432,000 Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Wolverine Asset Management LLC trimmed its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 88.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the company’s stock after selling 37,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Beacon Roofing Supply were worth $432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BECN. Allspring Global Investments Holdings LLC acquired a new position in shares of Beacon Roofing Supply during the first quarter worth $26,000. Blue Trust Inc. increased its holdings in Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares in the last quarter. GAMMA Investing LLC raised its position in Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after purchasing an additional 445 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after purchasing an additional 500 shares during the last quarter. Finally, Plato Investment Management Ltd grew its holdings in shares of Beacon Roofing Supply by 140.3% during the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after purchasing an additional 648 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BECN. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Stephens decreased their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Royal Bank of Canada raised their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird upped their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.22.

Beacon Roofing Supply Trading Down 1.4 %

NASDAQ BECN opened at $102.38 on Thursday. Beacon Roofing Supply, Inc. has a one year low of $77.33 and a one year high of $105.84. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The business has a 50 day simple moving average of $90.89 and a 200 day simple moving average of $92.44. The stock has a market capitalization of $6.34 billion, a P/E ratio of 17.50 and a beta of 1.54.

Insider Transactions at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the 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 transaction, the insider now directly owns 9,131 shares of the company’s stock, valued at $821,790. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the sale, the insider now directly owns 9,131 shares of the company’s stock, valued at $821,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clement Munroe Best III sold 5,637 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares in the company, valued at approximately $6,984,071.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,274 shares of company stock valued at $1,526,146 in the last quarter. 1.30% of the stock is currently owned by company 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.