MQS Management LLC Purchases Shares of 5,744 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

MQS Management LLC purchased a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,744 shares of the company’s stock, valued at approximately $496,000.

A number of other large investors have also recently made changes to their positions in BECN. Allspring Global Investments Holdings LLC acquired a new stake in Beacon Roofing Supply during the 1st quarter worth about $26,000. Blue Trust Inc. boosted its position in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 211 shares during the last quarter. GAMMA Investing LLC increased its holdings in Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after buying an additional 445 shares during the period. Central Pacific Bank Trust Division raised its position in Beacon Roofing Supply by 66.7% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after buying an additional 500 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its stake in Beacon Roofing Supply by 140.3% during the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after acquiring an additional 648 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 7,037 shares of the firm’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 transaction, the insider now owns 69,449 shares in the company, valued at approximately $7,162,969.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the sale, the insider now owns 69,449 shares in the company, valued at approximately $7,162,969.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now owns 9,131 shares in the company, valued at approximately $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 a total of 15,274 shares of company stock worth $1,526,146 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Beacon Roofing Supply Stock Down 1.4 %

BECN opened at $102.38 on Thursday. The company has a market cap of $6.34 billion, a PE ratio of 17.50 and a beta of 1.54. Beacon Roofing Supply, Inc. has a twelve month low of $77.33 and a twelve month high of $105.84. The company has a 50-day moving average price of $90.89 and a 200 day moving average price of $92.44. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BECN. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada raised their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Stephens decreased their target price on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.22.

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.