Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC trimmed its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,430 shares of the company's stock after selling 2,244 shares during the quarter. Keeley Teton Advisors LLC owned 0.05% of Beacon Roofing Supply worth $3,396,000 at the end of the most recent reporting period.

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

Beacon Roofing Supply Price Performance

NASDAQ BECN traded up $0.76 during trading hours on Friday, hitting $123.85. 2,350,702 shares of the company's stock traded hands, compared to its average volume of 1,128,625. 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 firm's 50-day moving average is $120.11 and its 200-day moving average is $110.39. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $123.90. The company has a market capitalization of $7.65 billion, a PE ratio of 21.17 and a beta of 1.31.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Zelman & Associates cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Baird R W lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Benchmark reiterated a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Finally, Loop Capital reiterated a "hold" rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $121.47.

Insider Transactions at Beacon Roofing Supply

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of the firm'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 transaction of $1,036,602.18. Following the completion of the sale, the insider now owns 22,642 shares in the company, valued at $2,765,493.88. This trade represents a 27.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 29,724 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 54,806 shares of company stock worth $6,745,448 in the last quarter. Company insiders own 1.30% of the company's stock.

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.