183,571 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Bought by Bessemer Group Inc.

Bessemer Group Inc. purchased a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 183,571 shares of the company’s stock, valued at approximately $17,993,000. Bessemer Group Inc. owned 0.29% of Beacon Roofing Supply as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BECN. Allspring Global Investments Holdings LLC acquired a new stake in shares of Beacon Roofing Supply during the 1st quarter valued at about $26,000. PNC Financial Services Group Inc. lifted its stake in Beacon Roofing Supply by 145.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after buying an additional 203 shares in the last quarter. Quarry LP lifted its stake in Beacon Roofing Supply by 127.1% in the 4th quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after buying an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Beacon Roofing Supply in the 4th quarter valued at about $36,000. Finally, Parkside Financial Bank & Trust lifted its stake in Beacon Roofing Supply by 86.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 910 shares of the company’s stock valued at $79,000 after buying an additional 423 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 2,955 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $91.11, for a total value of $269,230.05. Following the completion of the sale, the executive vice president now owns 320 shares in the company, valued at approximately $29,155.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Beacon Roofing Supply Trading Up 1.5 %

Shares of BECN stock traded up $1.43 during trading on Thursday, hitting $97.35. 60,209 shares of the stock traded hands, compared to its average volume of 691,298. Beacon Roofing Supply, Inc. has a 52-week low of $68.50 and a 52-week high of $103.75. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.87 and a quick ratio of 1.02. The firm’s fifty day moving average price is $95.11 and its 200-day moving average price is $92.16. The firm has a market capitalization of $6.19 billion, a P/E ratio of -152.25 and a beta of 1.58.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. As a group, research analysts forecast that Beacon Roofing Supply, Inc. will post 7.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Loop Capital raised their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Benchmark assumed coverage on shares of Beacon Roofing Supply in a research note on Thursday, April 18th. They issued a “buy” rating and a $135.00 target price on the stock. Truist Financial raised their target price on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. StockNews.com lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Robert W. Baird raised their target price on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of “Moderate Buy” and a consensus price target of $109.45.

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.