Alliancebernstein L.P. Has $7.27 Million Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Alliancebernstein L.P. reduced its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,517 shares of the company’s stock after selling 5,390 shares during the period. Alliancebernstein L.P. owned approximately 0.12% of Beacon Roofing Supply worth $7,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at $94,573,000. Raymond James Financial Inc. acquired a new position in Beacon Roofing Supply in the fourth quarter valued at about $24,162,000. Blue Grotto Capital LLC bought a new position in Beacon Roofing Supply during the fourth quarter worth about $23,726,000. Barclays PLC grew its position in shares of Beacon Roofing Supply by 272.0% during the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after buying an additional 89,222 shares during the period. Finally, Boston Partners increased its stake in shares of Beacon Roofing Supply by 1.3% in the 4th 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 last quarter. 98.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BECN shares. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $124.00 to $124.35 in a report on Wednesday, April 2nd. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets reduced their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Finally, Benchmark restated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $122.10.

Beacon Roofing Supply Stock Up 0.2 %

Shares of Beacon Roofing Supply stock opened at $123.15 on Friday. The firm has a market cap of $7.61 billion, a PE ratio of 21.05 and a beta of 1.31. The business’s 50 day simple moving average is $119.61 and its 200 day simple moving average is $108.84. 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 52-week low of $77.54 and a 52-week high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. On average, analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 29,724 shares of the 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 completion of the sale, the insider now owns 87,943 shares of the company’s stock, valued at approximately $10,821,386.15. This represents a 25.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the transaction, the executive vice president now owns 463 shares in the company, valued at approximately $57,231.43. The trade was a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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 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.