Dimensional Fund Advisors LP Lowers Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Dimensional Fund Advisors LP cut its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,606,255 shares of the company's stock after selling 281,903 shares during the period. Dimensional Fund Advisors LP owned about 2.60% of Beacon Roofing Supply worth $163,155,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased 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 fourth quarter. Marshall Wace LLP now owns 289,866 shares of the company's stock worth $29,445,000 after acquiring an additional 287,086 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Beacon Roofing Supply during the 4th quarter valued at about $24,162,000. Blue Grotto Capital LLC purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $23,726,000. Finally, Barclays PLC grew its holdings in shares of Beacon Roofing Supply by 272.0% during the 3rd 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 period. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BECN shares. StockNews.com started coverage on shares of Beacon Roofing Supply in a research note on Saturday. They set a "sell" rating on the stock. Raymond James cut shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a report on Friday, March 21st. BMO Capital Markets reaffirmed a "market perform" rating and issued a $124.35 price objective (down previously from $130.00) on shares of Beacon Roofing Supply in a report on Thursday, April 17th. William Blair reiterated a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Finally, Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Beacon Roofing Supply currently has an average rating of "Hold" and a consensus target price of $121.47.

Insider Buying and Selling

In other news, EVP Christopher Carl Nelson sold 16,595 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the transaction, the executive vice president now owns 463 shares of the company's stock, valued at $57,231.43. This trade represents a 97.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the 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 completion of the sale, the insider now owns 22,642 shares of the company's stock, valued at $2,765,493.88. The trade was a 27.26 % 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 ninety days. 1.30% of the stock is owned by insiders.

Beacon Roofing Supply Stock Up 0.0 %

Beacon Roofing Supply stock traded up $0.03 during mid-day trading on Tuesday, reaching $124.22. The stock had a trading volume of 8,316,564 shares, 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 stock's 50-day simple moving average is $120.69 and its 200-day simple moving average is $111.87. 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 fifty-two week low of $77.54 and a fifty-two week high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.43 billion. On average, sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

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.