Fmr LLC Purchases 963,633 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Fmr LLC raised its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 17.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,435,880 shares of the company’s stock after acquiring an additional 963,633 shares during the period. Fmr LLC owned about 0.10% of Beacon Roofing Supply worth $556,253,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. US Bancorp DE lifted its stake in Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after acquiring an additional 116 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Beacon Roofing Supply by 2.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock valued at $501,000 after acquiring an additional 147 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Beacon Roofing Supply by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock valued at $803,000 after acquiring an additional 156 shares in the last quarter. Equitable Trust Co. lifted its stake 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 acquiring an additional 156 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Beacon Roofing Supply by 14.1% in the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

BECN opened at $112.79 on Friday. The firm has a market cap of $6.98 billion, a P/E ratio of 19.28 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $116.30. 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 business’s fifty day moving average is $96.10 and its 200-day moving average is $93.36.

Insider Transactions at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the sale, the insider now directly owns 6,531 shares in the company, valued at $718,410. This represents a 28.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the sale, the insider now owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,874 shares of company stock valued at $1,812,146. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BECN has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Robert W. Baird upped their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Stephens reiterated an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Finally, Royal Bank of Canada upped their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and an average price target of $118.00.

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.