339,500 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Purchased by 140 Summer Partners LP

140 Summer Partners LP bought a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 339,500 shares of the company's stock, valued at approximately $29,343,000. Beacon Roofing Supply makes up approximately 3.2% of 140 Summer Partners LP's investment portfolio, making the stock its 14th largest position. 140 Summer Partners LP owned about 0.55% of Beacon Roofing Supply as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BECN. Intech Investment Management LLC bought a new position in shares of Beacon Roofing Supply during the third quarter worth about $1,441,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Beacon Roofing Supply by 18.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company's stock worth $83,239,000 after acquiring an additional 152,030 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Beacon Roofing Supply in the 3rd quarter worth approximately $4,331,000. Boston Partners increased its holdings in shares of Beacon Roofing Supply by 79.6% in the 1st quarter. Boston Partners now owns 1,285,239 shares of the company's stock valued at $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of Beacon Roofing Supply by 1,192.1% during the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company's stock valued at $44,398,000 after acquiring an additional 473,937 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply Price Performance

BECN stock traded up $0.27 on Thursday, hitting $112.79. 396,487 shares of the company's stock traded hands, compared to its average volume of 729,751. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 19.28 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $116.30. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a fifty day moving average of $96.10 and a 200-day moving average of $93.36.

Wall Street Analysts Forecast Growth

BECN has been the subject of several recent research reports. Stephens reiterated an "equal weight" rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Benchmark reaffirmed a "buy" rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada increased their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.00.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the transaction, the insider now directly owns 69,449 shares in the company, valued at approximately $7,162,969.86. The trade was a 9.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the sale, the insider now owns 6,531 shares of the company's stock, valued at $718,410. The trade was a 28.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,874 shares of company stock valued at $1,812,146 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

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.