Geode Capital Management LLC Sells 24,027 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Geode Capital Management LLC lowered its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,444,016 shares of the company's stock after selling 24,027 shares during the quarter. Geode Capital Management LLC owned 2.33% of Beacon Roofing Supply worth $146,716,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply in the 4th quarter worth approximately $31,000. Quarry LP increased its holdings in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after buying an additional 197 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after acquiring an additional 163 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after acquiring an additional 150 shares during the last quarter. Finally, Principal Securities Inc. grew its position in shares of Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after acquiring an additional 196 shares during the period. Institutional investors own 98.45% of the company's stock.

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Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 29,724 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now directly owns 87,943 shares of the company's stock, valued at $10,821,386.15. This represents a 25.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were 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 trade represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,806 shares of company stock worth $6,745,448 over the last ninety days. Company insiders own 1.30% of the company's stock.

Beacon Roofing Supply Price Performance

Shares of BECN stock traded up $0.25 on Friday, reaching $123.15. The company's stock had a trading volume of 1,996,066 shares, compared to its average volume of 1,105,841. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 21.05 and a beta of 1.31. The stock's fifty day simple moving average is $119.71 and its 200-day simple moving average is $109.10. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share 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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BECN has been the subject of several recent research reports. Loop Capital reissued a "hold" rating and set a $124.00 price target on shares of Beacon Roofing Supply in a report on Friday, March 21st. StockNews.com started coverage on shares of Beacon Roofing Supply in a research note on Thursday. They set a "sell" rating on the stock. Baird R W lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Zelman & Associates downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and upped their target price for the stock from $124.00 to $124.35 in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Beacon Roofing Supply has an average rating of "Hold" and a consensus price target of $122.10.

About Beacon Roofing Supply

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.