Fmr LLC Has $501.43 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

FMR LLC decreased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,936,326 shares of the company's stock after selling 1,499,554 shares during the period. FMR LLC owned 7.98% of Beacon Roofing Supply worth $501,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in Beacon Roofing Supply by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock valued at $234,000 after acquiring an additional 181 shares in the last quarter. Quarry LP raised its position in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company's stock worth $26,000 after buying an additional 197 shares in the last quarter. State Street Corp lifted its stake in shares of Beacon Roofing Supply by 1.1% in the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company's stock worth $127,182,000 after acquiring an additional 15,505 shares during the period. XTX Topco Ltd bought a new position in shares of Beacon Roofing Supply in the third quarter valued at approximately $266,000. Finally, MML Investors Services LLC acquired a new position in shares of Beacon Roofing Supply during the third quarter valued at approximately $268,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Beacon Roofing Supply Stock Performance

BECN traded down $0.24 on Tuesday, hitting $123.14. The company had a trading volume of 1,087,721 shares, compared to its average volume of 1,110,060. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $123.90. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 21.05 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company's fifty day moving average price is $119.80 and its 200 day moving average price is $109.50.

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Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly 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 net margin of 3.86% and a return on equity of 25.32%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Equities analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BECN has been the subject of a number of research reports. Raymond James lowered Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. Stifel Nicolaus lowered Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Loop Capital reiterated a "hold" rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st. Zelman & Associates lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Finally, BMO Capital Markets cut their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $122.10.

Insider Transactions at Beacon Roofing Supply

In other news, 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 transaction, the insider now owns 22,642 shares of the company's stock, valued at $2,765,493.88. This represents a 27.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Clement Munroe Best III sold 29,724 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the completion of the transaction, the insider now directly owns 87,943 shares of the company's stock, valued at $10,821,386.15. This trade represents a 25.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,806 shares of company stock valued at $6,745,448. Corporate 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.