Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC cut its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 12.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,947 shares of the company’s stock after selling 282 shares during the period. Chicago Partners Investment Group LLC’s holdings in Beacon Roofing Supply were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BECN. Quarry LP raised its position in Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the last quarter. Blue Trust Inc. raised its holdings in Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Beacon Roofing Supply during the third quarter worth about $28,000. GAMMA Investing LLC lifted its position in Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after purchasing an additional 445 shares during the period. Finally, Huntington National Bank boosted its holdings in Beacon Roofing Supply by 14.1% in the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after purchasing an additional 206 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Roofing Supply Stock Up 0.4 %

Shares of NASDAQ BECN opened at $118.97 on Thursday. The firm’s 50-day moving average is $109.34 and its two-hundred day moving average is $98.37. The company has a market capitalization of $7.36 billion, a PE ratio of 20.34 and a beta of 1.62. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $121.22. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BECN. BMO Capital Markets raised their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Robert W. Baird raised their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Finally, Royal Bank of Canada upped their target price 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.11.

Insider Buying and Selling

In other news, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply 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 completion of the sale, the insider now directly owns 69,449 shares in the company, valued at $7,162,969.86. The trade was a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the transaction, the insider now directly owns 6,531 shares in the company, valued at $718,410. The trade was a 28.47 % decrease in their position. The disclosure for this sale can be found here. 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.