FourThought Financial LLC Decreases Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

FourThought Financial LLC lessened its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,107 shares of the company’s stock after selling 325 shares during the quarter. FourThought Financial LLC’s holdings in Beacon Roofing Supply were worth $115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in Beacon Roofing Supply during the third quarter worth approximately $283,000. Point72 Hong Kong Ltd purchased a new position in Beacon Roofing Supply during the second quarter worth approximately $259,000. Hsbc Holdings PLC lifted its position in Beacon Roofing Supply by 41.0% during the third quarter. Hsbc Holdings PLC now owns 16,553 shares of the company’s stock worth $918,000 after buying an additional 4,810 shares in the last quarter. Clayton Dubilier & Rice LLC lifted its position in Beacon Roofing Supply by 0.7% during the third quarter. Clayton Dubilier & Rice LLC now owns 14,878,067 shares of the company’s stock worth $814,128,000 after buying an additional 103,931 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Beacon Roofing Supply by 5.7% during the third quarter. Russell Investments Group Ltd. now owns 40,412 shares of the company’s stock worth $2,209,000 after buying an additional 2,179 shares in the last quarter.

Insider Activity

In other news, major shareholder Cd&R Investment Associates Ix, acquired 107,185 shares of the company’s stock in a transaction dated Monday, January 30th. The stock was acquired at an average cost of $55.98 per share, with a total value of $6,000,216.30. Following the completion of the purchase, the insider now owns 15,072,084 shares of the company’s stock, valued at approximately $843,735,262.32. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.95% of the company’s stock.

Beacon Roofing Supply Trading Down 3.9 %

Shares of NASDAQ BECN opened at $56.23 on Friday. Beacon Roofing Supply, Inc. has a twelve month low of $45.71 and a twelve month high of $68.31. The company has a current ratio of 2.03, a quick ratio of 1.08 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $59.18 and a 200-day simple moving average of $56.90. The stock has a market capitalization of $3.61 billion, a PE ratio of 10.11 and a beta of 1.58.

Wall Street Analyst Weigh In

BECN has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. Stephens raised their target price on Beacon Roofing Supply from $65.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, February 27th. Robert W. Baird raised their target price on Beacon Roofing Supply from $65.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, February 27th. StockNews.com began coverage on Beacon Roofing Supply in a research note on Thursday. They set a “hold” rating for the company. Finally, Zelman & Associates cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Beacon Roofing Supply has a consensus rating of “Hold” and a consensus target price of $70.57.

Beacon Roofing Supply Company Profile

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Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.