Aigen Investment Management LP Lowers Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Aigen Investment Management LP trimmed its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 47.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,436 shares of the company’s stock after selling 4,846 shares during the quarter. Aigen Investment Management LP’s holdings in Beacon Roofing Supply were worth $473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 19.3% in the third quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock valued at $434,118,000 after acquiring an additional 909,819 shares during the period. Norges Bank purchased a new position in Beacon Roofing Supply in the fourth quarter worth $59,850,000. Acadian Asset Management LLC increased its position in shares of Beacon Roofing Supply by 4,518.3% in the third quarter. Acadian Asset Management LLC now owns 356,902 shares of the company’s stock valued at $27,527,000 after buying an additional 349,174 shares in the last quarter. Boston Partners increased its position in shares of Beacon Roofing Supply by 64.5% in the fourth quarter. Boston Partners now owns 715,612 shares of the company’s stock valued at $62,277,000 after buying an additional 280,583 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Beacon Roofing Supply by 9.3% in the third quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock valued at $211,017,000 after buying an additional 233,393 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Roofing Supply Stock Performance

BECN stock traded up $0.76 during trading on Friday, reaching $95.59. 2,882 shares of the company’s stock were exchanged, compared to its average volume of 696,554. Beacon Roofing Supply, Inc. has a 1-year low of $63.42 and a 1-year high of $103.75. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47. The company’s fifty day moving average price is $96.30 and its 200-day moving average price is $88.25. The firm has a market cap of $6.08 billion, a PE ratio of -150.52 and a beta of 1.59.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. On average, research analysts expect that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current fiscal year.

Insider Transactions at Beacon Roofing Supply

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Loop Capital increased their price objective on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, April 1st. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. BMO Capital Markets increased their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Finally, Truist Financial raised their price target on Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Three equities research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $107.64.

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.