Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by American Trust

American Trust decreased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,244 shares of the company’s stock after selling 350 shares during the period. American Trust’s holdings in Beacon Roofing Supply were worth $367,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BECN. Quarry LP grew its holdings in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. Blue Trust Inc. grew its stake in Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Beacon Roofing Supply in the 3rd quarter valued at about $28,000. GAMMA Investing LLC increased its holdings in Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after acquiring an additional 445 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction dated 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 owns 6,531 shares of the company’s stock, valued at approximately $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the transaction, the insider now owns 69,449 shares in the company, valued at approximately $7,162,969.86. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,874 shares of company stock valued at $1,812,146 over the last quarter. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

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

Beacon Roofing Supply Price Performance

BECN opened at $106.35 on Friday. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $116.30. The company’s 50 day simple moving average is $102.03 and its 200 day simple moving average is $94.59. The stock has a market capitalization of $6.58 billion, a PE ratio of 18.18 and a beta of 1.59. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

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.