Centiva Capital LP Buys New Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Centiva Capital LP acquired a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,080 shares of the company's stock, valued at approximately $1,131,000.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company's stock worth $556,253,000 after purchasing an additional 963,633 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Beacon Roofing Supply by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company's stock worth $85,887,000 after acquiring an additional 2,607 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Beacon Roofing Supply by 18.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company's stock worth $83,239,000 after acquiring an additional 152,030 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Beacon Roofing Supply by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company's stock worth $52,182,000 after buying an additional 5,497 shares during the last quarter. Finally, WCM Investment Management LLC lifted its holdings in shares of Beacon Roofing Supply by 1.6% in the 3rd quarter. WCM Investment Management LLC now owns 524,985 shares of the company's stock valued at $46,052,000 after purchasing an additional 8,054 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Jason L. Taylor sold 2,600 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 6,531 shares in the company, valued at $718,410. This represents a 28.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares of the company's stock, valued at approximately $6,984,071.58. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,874 shares of company stock worth $1,812,146. Insiders own 1.30% of the company's stock.

Beacon Roofing Supply Stock Down 0.5 %

Shares of BECN stock traded down $0.52 on Thursday, hitting $113.10. The stock had a trading volume of 384,867 shares, compared to its average volume of 723,621. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $116.30. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 19.42 and a beta of 1.59. 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 stock's 50 day moving average is $98.85 and its 200-day moving average is $93.95.

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.