Harvest Fund Management Co. Ltd Makes New $28,000 Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 322 shares of the company’s stock, valued at approximately $28,000.

A number of other institutional investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at $614,000. Fisher Asset Management LLC boosted its holdings in Beacon Roofing Supply by 0.3% during the third quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock valued at $85,887,000 after acquiring an additional 2,607 shares during the period. Citigroup Inc. grew its position in shares of Beacon Roofing Supply by 1,192.1% in the third quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock valued at $44,398,000 after purchasing an additional 473,937 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Beacon Roofing Supply by 2.3% in the third quarter. Eagle Asset Management Inc. now owns 142,980 shares of the company’s stock worth $12,358,000 after purchasing an additional 3,156 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Beacon Roofing Supply by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock worth $52,182,000 after purchasing an additional 5,497 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the sale, the insider now owns 6,531 shares in the company, valued at $718,410. This trade represents a 28.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Clement Munroe Best III sold 5,637 shares of the business’s 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 completion of the transaction, the insider now owns 69,514 shares in the company, valued at approximately $6,984,071.58. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,874 shares of company stock worth $1,812,146 in the last 90 days. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on BECN. Benchmark reaffirmed a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Stephens reaffirmed an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Royal Bank of Canada increased their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird upped their price objective on shares of 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Beacon Roofing Supply Stock Up 0.2 %

NASDAQ BECN opened at $112.79 on Friday. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $116.30. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 19.28 and a beta of 1.54. The stock’s 50 day moving average is $96.10 and its two-hundred day moving average is $93.36. 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 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.