Fmr LLC Lowers Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Fmr LLC decreased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 23.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,936,326 shares of the company’s stock after selling 1,499,554 shares during the period. Fmr LLC owned 7.98% of Beacon Roofing Supply worth $501,432,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. Quarry LP grew its stake in 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 buying an additional 197 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply in the 4th quarter worth $31,000. PNC Financial Services Group Inc. raised its holdings in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock worth $73,000 after buying an additional 150 shares during the period. Finally, Principal Securities Inc. grew its position in shares of Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Raymond James lowered shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $124.00 to $124.35 in a report on Wednesday, April 2nd. Loop Capital reissued a “hold” rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st. Finally, Baird R W lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.10.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 29,724 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now owns 87,943 shares in the company, valued at $10,821,386.15. This represents a 25.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the completion of the sale, the executive vice president now owns 463 shares in the company, valued at approximately $57,231.43. This represents a 97.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,806 shares of company stock worth $6,745,448 over the last quarter. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Stock Performance

BECN stock opened at $123.00 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The business has a 50-day moving average price of $119.51 and a 200 day moving average price of $108.57. The company has a market capitalization of $7.60 billion, a P/E ratio of 21.03 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. As a group, equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

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.