Invesco Ltd. Raises Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Invesco Ltd. grew its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,248,349 shares of the company's stock after purchasing an additional 86,209 shares during the period. Invesco Ltd. owned approximately 2.02% of Beacon Roofing Supply worth $126,807,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Equitable Trust Co. increased its stake in shares of Beacon Roofing Supply by 1.7% in the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company's stock valued at $734,000 after purchasing an additional 122 shares in the last quarter. Nomura Asset Management Co. Ltd. raised 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 buying an additional 150 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after buying an additional 163 shares in the last quarter. Cornerstone Investment Partners LLC grew its stake in Beacon Roofing Supply by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company's stock valued at $480,000 after acquiring an additional 166 shares during the period. Finally, HighTower Advisors LLC increased its holdings in Beacon Roofing Supply by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock worth $234,000 after acquiring an additional 181 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Beacon Roofing Supply Trading Up 0.6 %

Shares of BECN stock traded up $0.76 during trading on Friday, hitting $123.85. 2,350,702 shares of the stock traded hands, compared to its average volume of 1,125,843. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $123.90. The firm has a market capitalization of $7.65 billion, a P/E ratio of 21.17 and a beta of 1.31. The firm's fifty day moving average price is $120.02 and its 200-day moving average price is $109.95. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

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 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 for the quarter, compared to analysts' expectations of $2.43 billion. As a group, research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 29,724 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 87,943 shares in the company, valued at $10,821,386.15. This represents a 25.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the completion of 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BECN shares. 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. StockNews.com assumed coverage on Beacon Roofing Supply in a report on Friday. They issued a "sell" rating on the stock. Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Benchmark reissued a "buy" rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Finally, Royal Bank of Canada cut shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and upped their price objective for the company from $124.00 to $124.35 in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $121.47.

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.