BNP Paribas Financial Markets Has $3.67 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

BNP Paribas Financial Markets grew its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 23.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,441 shares of the company's stock after acquiring an additional 7,924 shares during the quarter. BNP Paribas Financial Markets owned 0.07% of Beacon Roofing Supply worth $3,668,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. FMR LLC raised its holdings in Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company's stock worth $556,253,000 after acquiring an additional 963,633 shares in the last quarter. Citigroup Inc. raised its stake in shares of Beacon Roofing Supply by 1,192.1% during the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company's stock worth $44,398,000 after purchasing an additional 473,937 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $39,606,000. Point72 Asset Management L.P. acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $27,566,000. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Beacon Roofing Supply by 18.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company's stock valued at $83,239,000 after buying an additional 152,030 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Activity

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 7,037 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the transaction, the insider now owns 69,449 shares in the company, valued at $7,162,969.86. This trade represents a 9.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the company's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,874 shares of company stock valued at $1,812,146. 1.30% of the stock is owned by company insiders.

Beacon Roofing Supply Stock Performance

NASDAQ BECN traded down $0.52 on Thursday, reaching $113.10. The stock had a trading volume of 365,523 shares, compared to its average volume of 723,621. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company has a market cap of $7.00 billion, a P/E ratio of 19.33 and a beta of 1.59. The firm has a fifty day moving average of $99.36 and a two-hundred day moving average of $94.08. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $116.30.

Analyst Upgrades and Downgrades

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

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.