Crestline Management LP Invests $824,000 in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Crestline Management LP purchased a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 4th quarter, HoldingsChannel reports. The firm purchased 8,108 shares of the company’s stock, valued at approximately $824,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock worth $661,235,000 after purchasing an additional 24,027 shares during the period. Boston Partners raised its stake in shares of Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock valued at $462,417,000 after acquiring an additional 59,630 shares during the period. Invesco Ltd. raised its stake in shares of Beacon Roofing Supply by 7.4% in the fourth quarter. Invesco Ltd. now owns 1,248,349 shares of the company’s stock valued at $126,807,000 after acquiring an additional 86,209 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Beacon Roofing Supply by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock worth $103,011,000 after acquiring an additional 20,372 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Beacon Roofing Supply by 2.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company’s stock valued at $100,076,000 after purchasing an additional 22,122 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 29,724 shares of Beacon Roofing Supply stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the completion of the sale, the insider now owns 87,943 shares of the company’s stock, valued at approximately $10,821,386.15. The trade was a 25.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 463 shares in the company, valued at $57,231.43. This represents a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,806 shares of company stock worth $6,745,448. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Stock Performance

BECN stock opened at $124.17 on Friday. The firm has a 50-day simple moving average of $122.27 and a two-hundred day simple moving average of $113.48. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $124.31. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BECN shares. Robert W. Baird boosted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Raymond James lowered Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 21st. BMO Capital Markets restated a “market perform” rating and issued a $124.35 price target (down from $130.00) on shares of Beacon Roofing Supply in a report on Thursday, April 17th. Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Finally, Baird R W lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $124.78.

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.