Huntington National Bank Boosts Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Huntington National Bank grew its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 14.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,668 shares of the company’s stock after acquiring an additional 206 shares during the quarter. Huntington National Bank’s holdings in Beacon Roofing Supply were worth $144,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in Beacon Roofing Supply in the first quarter valued at about $26,000. Blue Trust Inc. grew its position in shares of 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 buying an additional 211 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after acquiring an additional 445 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in 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 valued at $108,000 after acquiring an additional 500 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its holdings in shares of Beacon Roofing Supply by 140.3% during the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after purchasing an additional 648 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the sale, the insider now directly owns 69,449 shares of the company’s stock, valued at $7,162,969.86. This represents a 9.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply 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 of the company’s stock, valued at approximately $821,790. This represents a 22.16 % decrease in their position. 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 three months. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BECN shares. Robert W. Baird lifted their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Stephens reduced their target price on 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. Benchmark reiterated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada upped their target price 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.22.

Beacon Roofing Supply Stock Down 2.2 %

Shares of BECN stock opened at $98.75 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $105.84. The stock has a 50 day moving average of $91.58 and a 200 day moving average of $92.43. The stock has a market cap of $6.11 billion, a P/E ratio of 16.88 and a beta of 1.54.

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.