Quantessence Capital LLC Makes New $271,000 Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Quantessence Capital LLC purchased a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,669 shares of the company’s stock, valued at approximately $271,000.

Several other large investors have also modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in Beacon Roofing Supply in the 4th quarter valued at approximately $31,000. PNC Financial Services Group Inc. raised its holdings in shares of Beacon Roofing Supply by 38.1% in the fourth 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. Nomura Asset Management Co. Ltd. lifted its position in shares of Beacon Roofing Supply by 26.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after acquiring an additional 150 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after acquiring an additional 196 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Beacon Roofing Supply during the 4th quarter worth about $152,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 29,724 shares of Beacon Roofing Supply stock in a transaction that occurred 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 sale, the insider now owns 87,943 shares in the company, valued at $10,821,386.15. This trade represents a 25.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction 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 $2,765,493.88. This trade represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,806 shares of company stock valued at $6,745,448 over the last three months. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BECN. Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, February 28th. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Baird R W downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Royal Bank of Canada cut Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $124.00 to $124.35 in a report on Wednesday, April 2nd. Finally, Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Beacon Roofing Supply currently has an average rating of “Hold” and a consensus price target of $121.47.

Beacon Roofing Supply Stock Up 0.2 %

Shares of NASDAQ:BECN opened at $123.94 on Wednesday. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $124.02. The stock has a 50-day simple moving average of $120.20 and a 200-day simple moving average of $110.80. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The stock has a market capitalization of $7.66 billion, a P/E ratio of 21.19 and a beta of 1.31.

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

Beacon Roofing Supply 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.