Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Bought by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. grew its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 985,199 shares of the company’s stock after buying an additional 22,122 shares during the period. Vaughan Nelson Investment Management L.P. owned 1.59% of Beacon Roofing Supply worth $100,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. US Bancorp DE increased its position in Beacon Roofing Supply by 2.3% during the third quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after buying an additional 116 shares during the period. Equitable Trust Co. raised its position in Beacon Roofing Supply by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock valued at $614,000 after purchasing an additional 156 shares during the last quarter. HighTower Advisors LLC boosted its stake in Beacon Roofing Supply by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock worth $234,000 after purchasing an additional 181 shares during the period. Quarry LP increased its stake in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Finally, Huntington National Bank raised its holdings in shares of Beacon Roofing Supply by 14.1% in the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after buying an additional 206 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jason L. Taylor sold 2,600 shares of the company’s 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 completion of the transaction, the insider now owns 6,531 shares of the company’s stock, valued at $718,410. This represents a 28.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

BECN has been the topic of several recent research reports. StockNews.com began coverage on Beacon Roofing Supply in a research report on Wednesday. They issued a “sell” rating on the stock. Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Stephens reissued an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Finally, BMO Capital Markets raised their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $120.17.

Beacon Roofing Supply Stock Down 0.7 %

BECN stock opened at $119.70 on Friday. The company’s 50 day simple moving average is $109.63 and its 200-day simple moving average is $98.67. The firm has a market capitalization of $7.41 billion, a PE ratio of 20.46 and a beta of 1.62. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $121.42.

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.