Vaughan Nelson Investment Management L.P. Has $100.08 Million Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Vaughan Nelson Investment Management L.P. boosted its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 985,199 shares of the company's stock after acquiring an additional 22,122 shares during the period. Vaughan Nelson Investment Management L.P. owned 1.59% of Beacon Roofing Supply worth $100,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BECN. FMR LLC lifted its position in shares of Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company's stock valued at $556,253,000 after buying an additional 963,633 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Beacon Roofing Supply by 1,449.0% in the 3rd quarter. Janus Henderson Group PLC now owns 615,593 shares of the company's stock worth $53,205,000 after buying an additional 575,852 shares during the period. Citigroup Inc. boosted its position in Beacon Roofing Supply by 1,192.1% during the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company's stock valued at $44,398,000 after acquiring an additional 473,937 shares in the last quarter. 140 Summer Partners LP bought a new position in shares of Beacon Roofing Supply during the third quarter valued at approximately $29,343,000. Finally, Spruce House Investment Management LLC raised its position in shares of Beacon Roofing Supply by 97.1% in the 3rd quarter. Spruce House Investment Management LLC now owns 203,000 shares of the company's stock worth $17,545,000 after purchasing an additional 100,000 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stephens reissued an "equal weight" rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on 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 increased their target price 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. StockNews.com began coverage on Beacon Roofing Supply in a research report on Wednesday, February 5th. They issued a "sell" rating for the company. Finally, Benchmark restated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of "Hold" and an average price target of $120.17.

Insiders Place Their Bets

In related news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction on Monday, November 18th. The shares were 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 in the company, valued at approximately $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 accessible through this link. 1.30% of the stock is currently owned by insiders.

Beacon Roofing Supply Price Performance

BECN traded down $0.25 during midday trading on Wednesday, reaching $119.19. 485,824 shares of the company's stock were exchanged, compared to its average volume of 1,067,008. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $121.42. The stock has a market capitalization of $7.38 billion, a PE ratio of 20.37 and a beta of 1.62. The business's 50-day moving average price is $109.99 and its 200 day moving average price is $99.10.

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.