Bridgewater Associates LP Has $1.18 Million Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Bridgewater Associates LP cut its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 93.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,649 shares of the company's stock after selling 208,129 shares during the quarter. Bridgewater Associates LP's holdings in Beacon Roofing Supply were worth $1,180,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Beacon Roofing Supply by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,159 shares of the company's stock valued at $3,741,000 after buying an additional 3,625 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Beacon Roofing Supply by 34.7% in the 1st quarter. Janus Henderson Group PLC now owns 34,673 shares of the company's stock valued at $3,396,000 after acquiring an additional 8,932 shares during the period. California State Teachers Retirement System increased its stake in shares of Beacon Roofing Supply by 6.2% during the 1st quarter. California State Teachers Retirement System now owns 60,896 shares of the company's stock worth $5,969,000 after purchasing an additional 3,574 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Beacon Roofing Supply by 471.8% in the 2nd quarter. Raymond James & Associates now owns 42,029 shares of the company's stock valued at $3,804,000 after purchasing an additional 34,679 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Beacon Roofing Supply by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 811,047 shares of the company's stock valued at $73,400,000 after purchasing an additional 49,040 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Stock Performance

NASDAQ BECN traded down $0.73 during trading on Monday, reaching $112.29. The company's stock had a trading volume of 647,224 shares, compared to its average volume of 727,159. The firm has a 50 day moving average price of $97.15 and a 200 day moving average price of $93.57. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $116.30. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 19.24 and a beta of 1.54. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the sale, the insider now directly owns 69,514 shares in the company, valued at $6,984,071.58. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the transaction, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. This represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,874 shares of company stock valued at $1,812,146 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BECN has been the topic of a number of recent analyst reports. Benchmark reissued a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an "overweight" rating in a report on Tuesday, November 19th. Stephens reaffirmed an "equal weight" rating and set a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Royal Bank of Canada lifted their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $118.00.

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.