California Public Employees Retirement System Trims Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

California Public Employees Retirement System cut its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,101 shares of the company's stock after selling 3,291 shares during the period. California Public Employees Retirement System owned about 0.18% of Beacon Roofing Supply worth $11,184,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Beacon Roofing Supply by 0.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,473 shares of the company's stock worth $11,709,000 after acquiring an additional 647 shares during the period. Captrust Financial Advisors lifted its stake in Beacon Roofing Supply by 9.2% in the third quarter. Captrust Financial Advisors now owns 22,878 shares of the company's stock worth $1,977,000 after acquiring an additional 1,937 shares during the period. Paloma Partners Management Co purchased a new stake in Beacon Roofing Supply in the third quarter worth about $216,000. Holocene Advisors LP purchased a new stake in Beacon Roofing Supply in the third quarter worth about $976,000. Finally, HighTower Advisors LLC lifted its stake in Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock worth $234,000 after acquiring an additional 181 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN traded down $0.14 during midday trading on Thursday, hitting $122.86. The company's stock had a trading volume of 614,290 shares, compared to its average volume of 1,091,425. The firm has a market cap of $7.59 billion, a P/E ratio of 21.00 and a beta of 1.31. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $123.90. The firm's 50 day moving average is $119.51 and its 200-day moving average is $108.57. 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 (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion for 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%. Equities analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Baird R W lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and increased their price target for the company from $124.00 to $124.35 in a research report on Wednesday, April 2nd. Zelman & Associates lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Finally, Benchmark reissued a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $122.10.

Insider Transactions at Beacon Roofing Supply

In related 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 sale, the insider now owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. This trade represents a 27.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the completion of the transaction, the executive vice president now owns 463 shares in the company, valued at $57,231.43. The trade was a 97.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,806 shares of company stock valued at $6,745,448 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

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.