Barclays PLC Acquires 89,222 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Barclays PLC boosted its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 272.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,024 shares of the company's stock after acquiring an additional 89,222 shares during the period. Barclays PLC owned 0.20% of Beacon Roofing Supply worth $10,547,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BECN. Raymond James & Associates increased its position in shares of Beacon Roofing Supply by 471.8% during the second quarter. Raymond James & Associates now owns 42,029 shares of the company's stock valued at $3,804,000 after buying an additional 34,679 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Beacon Roofing Supply by 45.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,239 shares of the company's stock worth $293,000 after acquiring an additional 1,012 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Beacon Roofing Supply by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company's stock worth $803,000 after acquiring an additional 156 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Beacon Roofing Supply by 20.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 315,893 shares of the company's stock valued at $28,588,000 after purchasing an additional 53,558 shares during the period. Finally, Iridian Asset Management LLC CT boosted its position in shares of Beacon Roofing Supply by 12.0% during the second quarter. Iridian Asset Management LLC CT now owns 65,649 shares of the company's stock valued at $5,941,000 after purchasing an additional 7,031 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Beacon Roofing Supply Stock Performance

BECN traded up $0.02 during mid-day trading on Tuesday, reaching $105.32. 478,043 shares of the company traded hands, compared to its average volume of 715,751. The company's fifty day moving average price is $102.23 and its 200-day moving average price is $94.63. The stock has a market capitalization of $6.52 billion, a P/E ratio of 18.04 and a beta of 1.59. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $116.30.

Insider Buying and Selling

In related news, insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares in the company, valued at approximately $6,984,071.58. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the sale, the insider now owns 9,131 shares of the company's stock, valued at approximately $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 90 days. Company insiders own 1.30% of the company's stock.

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.