California State Teachers Retirement System Sells 2,743 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

California State Teachers Retirement System trimmed its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,869 shares of the company’s stock after selling 2,743 shares during the quarter. California State Teachers Retirement System owned 0.09% of Beacon Roofing Supply worth $5,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Equitable Trust Co. raised its stake in shares of Beacon Roofing Supply by 1.7% during the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock valued at $734,000 after purchasing an additional 122 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in 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 acquiring an additional 150 shares during the last quarter. PNC Financial Services Group Inc. increased its stake 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 acquiring an additional 163 shares during the last quarter. Cornerstone Investment Partners LLC increased its stake in Beacon Roofing Supply by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock worth $480,000 after acquiring an additional 166 shares during the last quarter. Finally, Principal Securities Inc. increased its stake in 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 acquiring an additional 196 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $124.17 on Monday. 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 fifty-two week low of $77.54 and a fifty-two week high of $124.31. The stock has a 50 day moving average price of $123.75 and a two-hundred day moving average price of $116.51. The company has a market capitalization of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data 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 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 the consensus estimate of $2.43 billion. Analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Robert W. Baird upped their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. BMO Capital Markets reiterated a “market perform” rating and set a $124.35 price objective (down from $130.00) on shares of Beacon Roofing Supply in a research report on Thursday, April 17th. Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Royal Bank of Canada lowered 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 research report on Wednesday, April 2nd. Finally, William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $124.78.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction on Thursday, April 3rd. The stock was 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 owns 463 shares in the company, valued at approximately $57,231.43. This represents a 97.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the stock in a transaction on Monday, April 7th. The stock was 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 owns 22,642 shares of the company’s stock, valued at approximately $2,765,493.88. This trade represents a 27.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is currently owned by insiders.

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.