Mount Yale Investment Advisors LLC Buys New Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Mount Yale Investment Advisors LLC purchased a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,016 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can grew its holdings in shares of Beacon Roofing Supply by 50.2% during the 2nd quarter. Bank of Montreal Can now owns 9,928 shares of the company’s stock valued at $926,000 after purchasing an additional 3,320 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Beacon Roofing Supply by 24.8% during the second quarter. The Manufacturers Life Insurance Company now owns 44,911 shares of the company’s stock valued at $4,064,000 after buying an additional 8,924 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Beacon Roofing Supply in the second quarter worth about $326,000. Creative Planning lifted its stake in shares of Beacon Roofing Supply by 29.9% in the 2nd quarter. Creative Planning now owns 11,177 shares of the company’s stock valued at $1,012,000 after acquiring an additional 2,575 shares during the last quarter. Finally, Truist Financial Corp purchased a new stake in Beacon Roofing Supply during the 2nd quarter valued at about $230,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $103.14, for a total value 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 filing with the Securities & Exchange Commission, which is available through 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 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 of the company’s stock, valued at approximately $718,410. This trade represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,274 shares of company stock worth $1,578,146. 1.30% of the stock is owned by corporate insiders.

Beacon Roofing Supply Stock Down 0.7 %

Shares of NASDAQ:BECN opened at $118.40 on Thursday. The firm has a market capitalization of $7.33 billion, a P/E ratio of 20.24 and a beta of 1.61. 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 stock has a 50 day moving average price of $108.71 and a 200-day moving average price of $97.68. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $121.22.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BECN. Stifel Nicolaus boosted their price objective on Beacon Roofing Supply from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Benchmark reissued a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. BMO Capital Markets boosted their price objective on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Stephens restated an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.11.

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.