Advantage Alpha Capital Partners LP Sells 54,180 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Advantage Alpha Capital Partners LP cut its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 69.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,541 shares of the company's stock after selling 54,180 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in Beacon Roofing Supply were worth $2,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company's stock valued at $454,000 after purchasing an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Beacon Roofing Supply by 2.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company's stock worth $501,000 after buying an additional 147 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Beacon Roofing Supply by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company's stock worth $803,000 after buying an additional 156 shares in the last quarter. Equitable Trust Co. boosted its position in shares of Beacon Roofing Supply by 2.2% in the third quarter. Equitable Trust Co. now owns 7,106 shares of the company's stock valued at $614,000 after acquiring an additional 156 shares during the period. Finally, Huntington National Bank increased its holdings in Beacon Roofing Supply by 14.1% during 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. Institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

BECN has been the subject of several analyst reports. Stephens reissued an "equal weight" rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Benchmark restated a "buy" rating and set a $140.00 target price 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 stock an "outperform" rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted 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. Finally, JPMorgan Chase & Co. upped their price objective 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. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.00.

Insiders Place Their Bets

In related news, insider Clement Munroe Best III sold 7,037 shares of the firm'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 sale, the insider now directly owns 69,449 shares of the company's stock, valued at $7,162,969.86. This trade represents a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason L. Taylor sold 2,600 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now directly owns 9,131 shares of the company's stock, valued at $821,790. The trade was a 22.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,874 shares of company stock valued at $1,812,146 over the last three months. Insiders own 1.30% of the company's stock.

Beacon Roofing Supply Price Performance

Shares of BECN stock traded down $1.25 during trading hours on Tuesday, hitting $112.52. 478,859 shares of the company's stock were exchanged, compared to its average volume of 730,978. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $116.30. The company has a market capitalization of $6.96 billion, a PE ratio of 19.45 and a beta of 1.54. The business's 50 day simple moving average is $95.03 and its 200-day simple moving average is $93.09. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

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.