Everence Capital Management Inc. Makes New Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Everence Capital Management Inc. acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,070 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE grew its position in Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after purchasing an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Beacon Roofing Supply by 2.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock valued at $501,000 after buying an additional 147 shares during the last quarter. Equitable Trust Co. grew its holdings in shares of Beacon Roofing Supply by 2.2% during the third quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock valued at $614,000 after buying an additional 156 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Beacon Roofing Supply by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock worth $234,000 after acquiring an additional 181 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BECN. Stephens reissued an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Robert W. Baird raised their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 target price on shares of Beacon Roofing Supply in a research note on Wednesday. Finally, Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.56.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $103.68 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The company has a market capitalization of $6.42 billion, a PE ratio of 17.72 and a beta of 1.61. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $116.30. The company has a 50-day simple moving average of $104.73 and a 200 day simple moving average of $95.15.

Insider Transactions at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the transaction, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the sale, the insider now directly owns 6,531 shares of the company’s stock, valued at approximately $718,410. This trade represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,274 shares of company stock worth $1,578,146 in the last quarter. Insiders own 1.30% of the company’s stock.

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.