Landscape Capital Management L.L.C. Makes New $247,000 Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Landscape Capital Management L.L.C. bought a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,433 shares of the company's stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Beacon Roofing Supply in the 4th quarter valued at about $94,573,000. Raymond James Financial Inc. purchased a new position in Beacon Roofing Supply during the 4th quarter valued at about $24,162,000. Blue Grotto Capital LLC purchased a new stake in Beacon Roofing Supply in the 4th quarter valued at approximately $23,726,000. Barclays PLC raised its stake in Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company's stock valued at $10,547,000 after purchasing an additional 89,222 shares during the last quarter. Finally, Boston Partners raised its holdings in Beacon Roofing Supply by 1.3% in the 4th quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after acquiring an additional 59,630 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 29,724 shares of the firm's stock in a transaction 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 owns 87,943 shares of the company's stock, valued at approximately $10,821,386.15. This trade represents a 25.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the sale, the executive vice president now owns 463 shares of the company's stock, valued at approximately $57,231.43. This represents a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock valued at $6,745,448 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com started coverage on shares of Beacon Roofing Supply in a report on Thursday. They set a "sell" rating on the stock. Benchmark reissued a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. BMO Capital Markets decreased their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Finally, Baird R W lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Beacon Roofing Supply has a consensus rating of "Hold" and a consensus price target of $122.10.

Beacon Roofing Supply Trading Up 0.2 %

Beacon Roofing Supply stock traded up $0.26 during mid-day trading on Monday, hitting $123.41. The stock had a trading volume of 443,574 shares, compared to its average volume of 1,106,026. The stock has a 50-day simple moving average of $119.71 and a two-hundred day simple moving average of $109.25. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $124.55. The stock has a market capitalization of $7.63 billion, a PE ratio of 21.10 and a beta of 1.31. 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 (NASDAQ:BECN - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The business 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%. As a group, sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Beacon Roofing Supply Company 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.