Bessemer Group Inc. Grows Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Bessemer Group Inc. boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,790 shares of the company's stock after purchasing an additional 9,484 shares during the quarter. Bessemer Group Inc. owned approximately 0.37% of Beacon Roofing Supply worth $23,443,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Beacon Roofing Supply in the fourth quarter worth about $94,573,000. Raymond James Financial Inc. bought a new position in shares of 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 in the fourth quarter valued at $23,726,000. Barclays PLC increased its position in Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company's stock worth $10,547,000 after purchasing an additional 89,222 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Beacon Roofing Supply by 7.4% during the fourth quarter. Invesco Ltd. now owns 1,248,349 shares of the company's stock valued at $126,807,000 after purchasing an additional 86,209 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BECN shares. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Benchmark restated a "buy" rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Zelman & Associates cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Royal Bank of Canada lowered 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 report on Wednesday, April 2nd. Finally, Baird R W lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of "Hold" and a consensus target price of $122.10.

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Insider Activity at Beacon Roofing Supply

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction on Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the transaction, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. This trade represents a 27.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clement Munroe Best III sold 29,724 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now owns 87,943 shares of the company's stock, valued at $10,821,386.15. This trade represents a 25.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,806 shares of company stock worth $6,745,448 over the last three months. 1.30% of the stock is owned by corporate insiders.

Beacon Roofing Supply Trading Down 0.2 %

BECN stock traded down $0.25 during mid-day trading on Tuesday, reaching $123.13. The company had a trading volume of 1,824,170 shares, compared to its average volume of 2,148,634. The company has a market capitalization of $7.61 billion, a PE ratio of 21.05 and a beta of 1.31. The firm has a 50 day moving average of $119.80 and a 200 day moving average of $109.50. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $123.90. 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 announced its quarterly earnings data 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 firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, equities analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal 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.