Kennedy Capital Management LLC Grows Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Kennedy Capital Management LLC increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 15.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 116,532 shares of the company's stock after purchasing an additional 15,855 shares during the period. Kennedy Capital Management LLC owned 0.19% of Beacon Roofing Supply worth $11,837,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP increased its holdings in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply in the 4th quarter valued at about $31,000. PNC Financial Services Group Inc. raised its holdings in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after acquiring an additional 163 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Beacon Roofing Supply by 26.3% during the fourth 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. boosted its holdings in shares of Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock worth $140,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

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Beacon Roofing Supply Price Performance

BECN stock traded down $0.25 during trading on Tuesday, reaching $123.13. 1,825,818 shares of the company were exchanged, compared to its average volume of 1,112,826. 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 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 has a 50-day moving average of $119.80 and a two-hundred day moving average of $109.50. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $123.90.

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

Insider Activity

In related news, insider Clement Munroe Best III sold 29,724 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was 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 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 legal filing with the SEC, which is available at this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was 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 in the company, valued at $57,231.43. This trade represents a 97.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,806 shares of company stock valued at $6,745,448 over the last quarter. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BECN has been the subject of several research reports. Benchmark restated a "buy" rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and raised their price target for the stock from $124.00 to $124.35 in a research report on Wednesday, April 2nd. Loop Capital reissued a "hold" rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Finally, Baird R W downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given 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.