Intech Investment Management LLC Makes New $1.44 Million Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Intech Investment Management LLC purchased a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,669 shares of the company's stock, valued at approximately $1,441,000.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of Beacon Roofing Supply by 2.3% in the third quarter. US Bancorp DE now owns 5,255 shares of the company's stock worth $454,000 after purchasing an additional 116 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Beacon Roofing Supply by 2.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company's stock worth $501,000 after purchasing an additional 147 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Beacon Roofing Supply by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company's stock worth $803,000 after purchasing an additional 156 shares during the last quarter. Equitable Trust Co. raised its stake in shares of Beacon Roofing Supply by 2.2% in the third quarter. Equitable Trust Co. now owns 7,106 shares of the company's stock worth $614,000 after purchasing an additional 156 shares during the last quarter. Finally, Huntington National Bank raised its stake in shares of Beacon Roofing Supply by 14.1% in the third quarter. Huntington National Bank now owns 1,668 shares of the company's stock worth $144,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Wall Street Analyst Weigh In

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

Beacon Roofing Supply Price Performance

BECN traded down $1.25 during trading on Tuesday, hitting $112.52. The company's stock had a trading volume of 478,856 shares, compared to its average volume of 730,978. 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 twelve month low of $77.54 and a twelve month high of $116.30. The business's fifty day simple moving average is $95.03 and its 200 day simple moving average is $93.09. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 19.45 and a beta of 1.54.

Insider Transactions at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the sale, the insider now directly owns 69,514 shares of the company's stock, valued at $6,984,071.58. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the sale, the insider now directly owns 6,531 shares in the company, valued at $718,410. This represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,874 shares of company stock valued at $1,812,146 over the last ninety days. Insiders own 1.30% of the company's stock.

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.