T. Rowe Price Investment Management Inc. Trims Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

T. Rowe Price Investment Management Inc. trimmed its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 32.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,218,832 shares of the company's stock after selling 1,067,050 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 3.59% of Beacon Roofing Supply worth $225,389,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BECN. Norges Bank bought a new stake in Beacon Roofing Supply during the 4th quarter valued at approximately $94,573,000. Marshall Wace LLP boosted its position in Beacon Roofing Supply by 10,326.8% during the 4th quarter. Marshall Wace LLP now owns 289,866 shares of the company's stock valued at $29,445,000 after acquiring an additional 287,086 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Beacon Roofing Supply during the 4th quarter valued at approximately $24,162,000. Blue Grotto Capital LLC purchased a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $23,726,000. Finally, Barclays PLC lifted its holdings in shares of Beacon Roofing Supply by 272.0% during 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 during the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Transactions at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 16,595 shares of Beacon Roofing Supply stock in a transaction that occurred on 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 owns 463 shares of the company's stock, valued at approximately $57,231.43. This trade represents a 97.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Clement Munroe Best III sold 29,724 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now directly owns 87,943 shares in the company, valued at $10,821,386.15. This trade represents a 25.26 % 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 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Loop Capital reiterated a "hold" rating and set a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their target price for the company from $131.00 to $122.55 in a report on Friday, February 7th. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from $124.00 to $124.35 in a report on Wednesday, April 2nd. Zelman & Associates lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Finally, Raymond James lowered shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $121.47.

Beacon Roofing Supply Stock Performance

Shares of BECN stock traded up $0.03 during mid-day trading on Tuesday, reaching $124.22. 8,316,564 shares of the company's stock traded hands, compared to its average volume of 1,186,515. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The firm has a market capitalization of $7.68 billion, a PE ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $124.31. The firm has a 50 day moving average price of $120.69 and a two-hundred day moving average price of $111.87.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released 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). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. On average, research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

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.