Charles Schwab Investment Management Inc. Has $52.18 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Charles Schwab Investment Management Inc. increased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603,748 shares of the company's stock after acquiring an additional 5,497 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.98% of Beacon Roofing Supply worth $52,182,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. boosted its stake in 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 valued at $83,239,000 after purchasing an additional 152,030 shares in the last quarter. WCM Investment Management LLC grew its holdings in Beacon Roofing Supply by 1.6% during the third quarter. WCM Investment Management LLC now owns 524,985 shares of the company's stock worth $46,052,000 after acquiring an additional 8,054 shares during the period. Driehaus Capital Management LLC bought a new stake in Beacon Roofing Supply in the second quarter worth about $39,606,000. Bank of New York Mellon Corp lifted its holdings in Beacon Roofing Supply by 20.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 315,893 shares of the company's stock valued at $28,588,000 after acquiring an additional 53,558 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Beacon Roofing Supply during the 2nd quarter valued at about $27,566,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Beacon Roofing Supply Stock Up 0.2 %

Shares of BECN stock traded up $0.23 during trading on Friday, hitting $113.02. 210,883 shares of the company were exchanged, compared to its average volume of 861,545. The business's 50-day simple moving average is $97.15 and its 200 day simple moving average is $93.62. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $116.30. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 19.32 and a beta of 1.54. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now directly owns 9,131 shares in the company, valued at approximately $821,790. This trade represents a 22.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clement Munroe Best III sold 7,037 shares of the business's stock in a transaction dated 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 owns 69,449 shares in the company, valued at $7,162,969.86. This trade represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,874 shares of company stock valued at $1,812,146 in the last quarter. Company insiders own 1.30% of the company's stock.

Beacon Roofing Supply Company 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.