Dimensional Fund Advisors LP Sells 154,236 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Dimensional Fund Advisors LP decreased its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,707,235 shares of the company’s stock after selling 154,236 shares during the quarter. Dimensional Fund Advisors LP owned about 5.88% of Beacon Roofing Supply worth $307,629,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Beacon Roofing Supply in the 1st quarter valued at $385,000. Cambridge Investment Research Advisors Inc. lifted its position in Beacon Roofing Supply by 8.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,009 shares of the company’s stock valued at $333,000 after acquiring an additional 309 shares in the last quarter. Diversified Trust Co bought a new position in Beacon Roofing Supply in the 2nd quarter valued at about $243,000. Duality Advisers LP bought a new position in Beacon Roofing Supply in the 2nd quarter valued at about $722,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Beacon Roofing Supply by 5.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,441 shares of the company’s stock valued at $369,000 after acquiring an additional 239 shares in the last quarter.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $78.89 on Thursday. The company’s 50 day moving average is $74.93 and its 200-day moving average is $75.63. Beacon Roofing Supply, Inc. has a 12-month low of $50.42 and a 12-month high of $87.46. The company has a quick ratio of 1.05, a current ratio of 1.73 and a debt-to-equity ratio of 1.43. The firm has a market cap of $4.98 billion, a P/E ratio of -74.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.62.

Wall Street Analysts Forecast Growth

BECN has been the subject of several analyst reports. Truist Financial lowered their target price on shares of Beacon Roofing Supply from $95.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, October 17th. StockNews.com downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Jefferies Financial Group lowered their target price on shares of Beacon Roofing Supply from $92.00 to $89.00 in a report on Thursday, October 12th. Raymond James upped their price objective on Beacon Roofing Supply from $75.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Beacon Roofing Supply from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $89.40.

Insider Activity

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,152 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $78.19, for a total transaction of $168,264.88. Following the completion of the transaction, the insider now owns 8,689 shares of the company’s stock, valued at approximately $679,392.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jason L. Taylor sold 2,152 shares of Beacon Roofing Supply stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $78.19, for a total transaction of $168,264.88. Following the completion of the sale, the insider now owns 8,689 shares of the company’s stock, valued at $679,392.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cd&R Investment Associates Ix, acquired 46,170 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average cost of $63.59 per share, with a total value of $2,935,950.30. Following the purchase, the insider now directly owns 10,218,134 shares of the company’s stock, valued at approximately $649,771,141.06. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in 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. It 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.