Thrivent Financial for Lutherans Has $14.06 Million Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Thrivent Financial for Lutherans grew its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162,694 shares of the company’s stock after acquiring an additional 2,284 shares during the quarter. Thrivent Financial for Lutherans owned 0.26% of Beacon Roofing Supply worth $14,061,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in Beacon Roofing Supply in the 1st quarter valued at approximately $26,000. State Board of Administration of Florida Retirement System raised its position in Beacon Roofing Supply by 12.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,338 shares of the company’s stock valued at $1,699,000 after purchasing an additional 1,930 shares during the last quarter. Blair William & Co. IL acquired a new stake in shares of Beacon Roofing Supply during the first quarter valued at about $644,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Beacon Roofing Supply by 177.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,535 shares of the company’s stock worth $154,000 after purchasing an additional 982 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Beacon Roofing Supply by 14.1% in the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after buying an additional 872,216 shares during the period. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $108.94 on Thursday. The stock’s 50 day moving average price is $93.31 and its two-hundred day moving average price is $92.71. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 18.62 and a beta of 1.54. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $116.30.

Wall Street Analysts Forecast Growth

BECN has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday. Robert W. Baird increased their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the company’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 transaction, the insider now owns 9,131 shares in the company, valued at approximately $821,790. This represents a 22.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now owns 69,514 shares of the company’s stock, valued at $6,984,071.58. This represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,874 shares of company stock valued at $1,812,146 over the last ninety days. 1.30% of the stock is owned by corporate insiders.

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.