Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 10.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 395,121 shares of the company's stock after purchasing an additional 38,199 shares during the period. JPMorgan Chase & Co. owned 0.64% of Beacon Roofing Supply worth $40,136,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Quarry LP lifted its stake in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company's stock worth $26,000 after purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply in the 4th quarter worth about $31,000. PNC Financial Services Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after buying an additional 163 shares during the period. Principal Securities Inc. grew its position in shares of Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after buying an additional 196 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth about $152,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Activity

In related news, insider Jonathan Stuart Bennett sold 8,487 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the completion of the sale, the insider now directly owns 22,642 shares of the company's stock, valued at $2,765,493.88. This represents a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now owns 463 shares of the company's stock, valued at $57,231.43. The trade was a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock worth $6,745,448 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

BECN has been the subject of a number of research reports. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Zelman & Associates lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Loop Capital restated a "hold" rating and set a $124.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, March 21st. StockNews.com initiated coverage on Beacon Roofing Supply in a research note on Thursday. They issued a "sell" rating on the stock. Finally, Royal Bank of Canada lowered shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and upped their price target for the stock from $124.00 to $124.35 in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $122.10.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN traded up $0.25 during trading on Friday, reaching $123.15. The company had a trading volume of 1,996,066 shares, compared to its average volume of 1,105,841. The firm's fifty day moving average is $119.61 and its 200 day moving average is $108.84. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The firm has a market capitalization of $7.61 billion, a PE ratio of 21.05 and a beta of 1.31. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. On average, equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

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.