State Street Corp Has $127.18 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

State Street Corp raised its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,471,500 shares of the company’s stock after acquiring an additional 15,505 shares during the period. State Street Corp’s holdings in Beacon Roofing Supply were worth $127,182,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BECN. Quarry LP increased its position in shares of Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. 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 valued at $28,000 after buying an additional 211 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at $28,000. GAMMA Investing LLC lifted its holdings 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 during the period. Finally, Central Pacific Bank Trust Division boosted its position in shares of Beacon Roofing Supply by 66.7% during the 3rd 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 in the last quarter. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BECN. Royal Bank of Canada increased their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird raised their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Stephens reiterated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Finally, Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $118.00.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $106.35 on Friday. The stock has a 50-day simple moving average of $102.03 and a 200 day simple moving average of $94.58. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 18.18 and a beta of 1.59. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $116.30.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $110.00, for a total transaction of $286,000.00. Following the transaction, the insider now owns 6,531 shares of the company’s stock, valued at $718,410. This represents a 28.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the sale, the insider now owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. The trade was a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,874 shares of company stock worth $1,812,146. 1.30% of the stock is currently owned by corporate 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.