Rockefeller Capital Management L.P. Acquires Shares of 20,188 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Rockefeller Capital Management L.P. bought a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,188 shares of the company’s stock, valued at approximately $2,051,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BECN. Norges Bank acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter worth $94,573,000. Raymond James Financial Inc. purchased a new position in Beacon Roofing Supply during the fourth quarter worth about $24,162,000. Blue Grotto Capital LLC purchased a new position in Beacon Roofing Supply during the fourth quarter worth about $23,726,000. Barclays PLC boosted its holdings in Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after purchasing an additional 89,222 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Beacon Roofing Supply by 7.4% in the 4th quarter. Invesco Ltd. now owns 1,248,349 shares of the company’s stock valued at $126,807,000 after buying an additional 86,209 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 29,724 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the completion of the transaction, the insider now owns 87,943 shares in the company, valued at approximately $10,821,386.15. The trade was a 25.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the transaction, the insider now directly owns 22,642 shares in the company, valued at $2,765,493.88. This trade represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,806 shares of company stock valued at $6,745,448 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

BECN has been the topic of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $124.35 price target (down previously from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research report on Friday. They issued a “sell” rating on the stock. Finally, Royal Bank of Canada cut shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $124.00 to $124.35 in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $121.47.

Beacon Roofing Supply Price Performance

Shares of BECN opened at $123.85 on Friday. The company has a market cap of $7.65 billion, a P/E ratio of 21.17 and a beta of 1.31. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $123.90. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm’s 50 day moving average price is $120.11 and its 200 day moving average price is $110.39.

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