Principal Financial Group Inc. Has $503,000 Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Principal Financial Group Inc. lowered its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 89.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,820 shares of the company's stock after selling 48,924 shares during the quarter. Principal Financial Group Inc.'s holdings in Beacon Roofing Supply were worth $503,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Intech Investment Management LLC bought a new stake in shares of Beacon Roofing Supply during the third quarter worth $1,441,000. Barclays PLC lifted its holdings in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company's stock valued at $10,547,000 after purchasing an additional 89,222 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Beacon Roofing Supply by 23.0% during the third quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company's stock worth $3,668,000 after buying an additional 7,924 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Beacon Roofing Supply during the 3rd quarter worth approximately $4,331,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings 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 purchasing an additional 152,030 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the sale, the insider now directly owns 6,531 shares of the company's stock, valued at approximately $718,410. This trade represents a 28.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Clement Munroe Best III sold 7,037 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the transaction, the insider now directly owns 69,449 shares in the company, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,274 shares of company stock worth $1,578,146 over the last ninety days. Insiders own 1.30% of the company's stock.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ BECN traded down $0.62 during midday trading on Monday, hitting $101.98. 346,073 shares of the company's stock were exchanged, compared to its average volume of 406,558. 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 firm has a market capitalization of $6.31 billion, a PE ratio of 17.43 and a beta of 1.61. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $116.30. The company's 50 day moving average price is $104.55 and its 200 day moving average price is $95.09.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BECN shares. JPMorgan Chase & Co. increased their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an "overweight" rating in a report on Tuesday, November 19th. Stephens restated an "equal weight" rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Royal Bank of Canada lifted their target price 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. Robert W. Baird increased their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, Benchmark reaffirmed a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Beacon Roofing Supply presently has an average rating of "Moderate Buy" and an average target price of $117.88.

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.