New York State Common Retirement Fund Buys 1,968 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

New York State Common Retirement Fund lifted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,085 shares of the company’s stock after purchasing an additional 1,968 shares during the quarter. New York State Common Retirement Fund’s holdings in Beacon Roofing Supply were worth $2,096,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BECN. Vanguard Group Inc. boosted its stake in shares of Beacon Roofing Supply by 19.3% during the third quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock valued at $434,118,000 after purchasing an additional 909,819 shares in the last quarter. American Century Companies Inc. grew its holdings in Beacon Roofing Supply by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock worth $211,017,000 after acquiring an additional 233,393 shares during the last quarter. Northern Trust Corp increased its position in Beacon Roofing Supply by 1.2% in the 3rd quarter. Northern Trust Corp now owns 821,996 shares of the company’s stock valued at $63,433,000 after acquiring an additional 10,111 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Beacon Roofing Supply by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 685,717 shares of the company’s stock valued at $52,917,000 after acquiring an additional 57,916 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Beacon Roofing Supply by 4.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 662,657 shares of the company’s stock valued at $57,665,000 after acquiring an additional 27,185 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BECN shares. Benchmark assumed coverage on Beacon Roofing Supply in a report on Thursday, April 18th. They issued a “buy” rating and a $135.00 price objective for the company. StockNews.com downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday. Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lowered their price target on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. Finally, BMO Capital Markets upped their price objective on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply has an average rating of “Moderate Buy” and a consensus target price of $107.64.

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $92.28 on Thursday. Beacon Roofing Supply, Inc. has a one year low of $57.88 and a one year high of $103.75. The company has a market cap of $5.85 billion, a PE ratio of -146.48 and a beta of 1.59. The stock has a 50-day moving average of $94.16 and a 200-day moving average of $86.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.31%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the business posted $1.18 EPS. The company’s revenue was up 16.8% on a year-over-year basis. On average, equities research analysts predict that Beacon Roofing Supply, Inc. will post 7.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares of the company’s stock, valued at $1,000,445. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the sale, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now owns 10,531 shares in the company, valued at $1,000,445. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Beacon Roofing Supply 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.