Equitable Trust Co. Acquires 156 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Equitable Trust Co. boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,106 shares of the company’s stock after acquiring an additional 156 shares during the quarter. Equitable Trust Co.’s holdings in Beacon Roofing Supply were worth $614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Beacon Roofing Supply by 14.1% in the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after acquiring an additional 872,216 shares during the period. Boston Partners grew its stake in Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after buying an additional 569,627 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Beacon Roofing Supply by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 811,047 shares of the company’s stock worth $73,400,000 after buying an additional 49,040 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Beacon Roofing Supply during the second quarter worth about $39,606,000. Finally, Jupiter Asset Management Ltd. grew its stake in Beacon Roofing Supply by 1,293.8% during the first quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock worth $39,150,000 after buying an additional 370,756 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Trading Up 1.0 %

Shares of NASDAQ BECN opened at $103.25 on Friday. The company’s 50 day simple moving average is $89.89 and its 200 day simple moving average is $92.32. Beacon Roofing Supply, Inc. has a fifty-two week low of $72.56 and a fifty-two week high of $105.42. The firm has a market capitalization of $6.39 billion, a P/E ratio of 17.65 and a beta of 1.54. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Analysts Set New Price Targets

BECN has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird upped their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Stephens decreased their price objective on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Royal Bank of Canada upped their price objective on shares of 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 given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.22.

Insider Activity at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares in the company, valued at $6,984,071.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares in the company, valued at $6,984,071.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the transaction, the insider now owns 9,131 shares in the company, valued at $821,790. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,274 shares of company stock worth $1,526,146 over the last ninety days. Company insiders own 1.30% of the company’s stock.

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.