7,103 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,103 shares of the company's stock, valued at approximately $614,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. US Bancorp DE grew its position in Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company's stock worth $454,000 after purchasing an additional 116 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Beacon Roofing Supply by 2.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company's stock worth $501,000 after purchasing an additional 147 shares during the last quarter. SummerHaven Investment Management LLC grew its position in Beacon Roofing Supply by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company's stock worth $803,000 after purchasing an additional 156 shares during the last quarter. Equitable Trust Co. grew its position in Beacon Roofing Supply by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 7,106 shares of the company's stock worth $614,000 after purchasing an additional 156 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of Beacon Roofing Supply by 14.1% in the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company's stock worth $144,000 after acquiring an additional 206 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the business's stock in a transaction dated Monday, November 18th. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the sale, the insider now directly owns 69,449 shares of the company's stock, valued at $7,162,969.86. This represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,874 shares of company stock valued at $1,812,146. Insiders own 1.30% of the company's stock.

Beacon Roofing Supply Stock Up 0.2 %

BECN traded up $0.23 during trading on Friday, reaching $113.02. 210,883 shares of the stock traded hands, compared to its average volume of 727,505. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 19.28 and a beta of 1.54. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $116.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock's 50-day simple moving average is $96.60 and its two-hundred day simple moving average is $93.50.

Wall Street Analyst Weigh In

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

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.