Russell Investments Group Ltd. Has $5.87 Million Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Russell Investments Group Ltd. grew its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 55.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,812 shares of the company's stock after purchasing an additional 20,704 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Beacon Roofing Supply worth $5,873,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BECN. SBI Securities Co. Ltd. bought a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. grew its holdings in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after purchasing an additional 163 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Beacon Roofing Supply by 26.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after purchasing an additional 150 shares during the period. Principal Securities Inc. raised its stake in Beacon Roofing Supply by 16.5% in the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after purchasing an additional 196 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Beacon Roofing Supply during the fourth quarter worth about $152,000. 98.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BECN. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Friday. They issued a "sell" rating for the company. Baird R W cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Stifel Nicolaus downgraded Beacon Roofing Supply from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Finally, Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $121.47.

Beacon Roofing Supply Trading Up 0.6 %

Shares of NASDAQ BECN traded up $0.76 during trading on Friday, reaching $123.85. The company had a trading volume of 2,350,702 shares, compared to its average volume of 1,125,843. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $123.90. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The stock has a market cap of $7.65 billion, a P/E ratio of 21.17 and a beta of 1.31. The company's fifty day moving average price is $120.02 and its 200-day moving average price is $109.95.

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

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction on Monday, April 7th. The shares were sold at an average price of $122.14, for a total value 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 approximately $2,765,493.88. The trade was a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 29,724 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the transaction, the insider now directly owns 87,943 shares in the company, valued at $10,821,386.15. This trade represents a 25.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,806 shares of company stock valued at $6,745,448 over the last 90 days. Company insiders own 1.30% of the company's stock.

About Beacon Roofing Supply

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.