Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 12.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 270,770 shares of the company’s stock after selling 39,628 shares during the quarter. Millennium Management LLC’s holdings in Beacon Roofing Supply were worth $27,505,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BECN. Barclays PLC lifted its holdings in shares of Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after acquiring an additional 89,222 shares during the last quarter. KBC Group NV lifted its holdings in shares of Beacon Roofing Supply by 45.0% in the 4th quarter. KBC Group NV now owns 2,505 shares of the company’s stock worth $254,000 after acquiring an additional 777 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of Beacon Roofing Supply in the 4th quarter worth approximately $205,000. Trust Point Inc. acquired a new position in shares of Beacon Roofing Supply in the 4th quarter worth approximately $200,000. Finally, Choreo LLC lifted its holdings in shares of Beacon Roofing Supply by 30.6% in the 4th quarter. Choreo LLC now owns 10,183 shares of the company’s stock worth $1,014,000 after acquiring an additional 2,383 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on BECN shares. Loop Capital restated a “hold” rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price target for the company from $131.00 to $122.55 in a research report on Friday, February 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $124.35 price objective (down previously from $130.00) on shares of Beacon Roofing Supply in a research report on Thursday, April 17th. Raymond James lowered Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Baird R W lowered 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 given a buy rating to the company. Based on data from MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Hold” and a consensus price target of $124.78.

Insider Buying and Selling

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $57,231.43. This trade represents a 97.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. The trade was a 27.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,806 shares of company stock worth $6,745,448. Corporate insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $124.17 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock’s fifty day simple moving average is $123.30 and its 200-day simple moving average is $115.04. The firm has a market capitalization of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion for 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%. As a group, equities analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

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.