Gilder Gagnon Howe & Co. LLC Has $13.69 Million Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Gilder Gagnon Howe & Co. LLC trimmed its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,759 shares of the company's stock after selling 8,231 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned about 0.22% of Beacon Roofing Supply worth $13,689,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BECN. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply in the 4th quarter worth approximately $31,000. PNC Financial Services Group Inc. raised its position in shares of Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after acquiring an additional 163 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Beacon Roofing Supply by 26.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after acquiring an additional 150 shares during the period. Principal Securities Inc. boosted its holdings 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 acquiring an additional 196 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Beacon Roofing Supply in the fourth quarter worth about $152,000. Institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BECN. StockNews.com started coverage on shares of Beacon Roofing Supply in a research note on Saturday. They issued a "sell" rating on the stock. Loop Capital reissued a "hold" rating and issued a $124.00 price target on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Zelman & Associates downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. BMO Capital Markets reaffirmed a "market perform" rating and set a $124.35 price objective (down previously from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday, April 17th. Finally, William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply has a consensus rating of "Hold" and an average price target of $121.47.

Insider Transactions at Beacon Roofing Supply

In other news, EVP Christopher Carl Nelson sold 16,595 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now directly owns 463 shares in the company, valued at approximately $57,231.43. The trade was a 97.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is currently owned by insiders.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock traded up $0.03 on Tuesday, reaching $124.22. 8,317,300 shares of the stock were exchanged, compared to its average volume of 1,189,153. The firm's 50 day moving average is $120.78 and its 200-day moving average is $111.95. The firm has a market cap of $7.68 billion, a PE ratio of 21.23 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $124.31.

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 the consensus estimate of $1.66 by ($0.01). The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

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.