Marshall Wace LLP Purchases 287,086 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Marshall Wace LLP raised its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 10,326.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,866 shares of the company's stock after purchasing an additional 287,086 shares during the quarter. Marshall Wace LLP owned approximately 0.47% of Beacon Roofing Supply worth $29,445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $31,000. PNC Financial Services Group Inc. raised its stake in Beacon Roofing Supply by 38.1% in the fourth 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. 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 purchasing an additional 150 shares during the period. Principal Securities Inc. grew its stake in 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 buying an additional 196 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Beacon Roofing Supply in the 4th quarter valued at about $152,000. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Trading Up 0.0 %

Beacon Roofing Supply stock traded up $0.02 during mid-day trading on Thursday, hitting $124.03. 920,465 shares of the stock were exchanged, compared to its average volume of 1,147,888. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 21.20 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $124.17. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm's fifty day simple moving average is $120.39 and its two-hundred day simple moving average is $110.98.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its 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 firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James downgraded shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research report on Friday, April 18th. They set a "sell" rating for the company. Benchmark restated a "buy" rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Finally, Robert W. Baird upped their price target 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $121.47.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the transaction, the insider now owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. The trade was a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clement Munroe Best III sold 29,724 shares of the business'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 completion of the transaction, the insider now directly owns 87,943 shares in the company, valued at approximately $10,821,386.15. This represents a 25.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,806 shares of company stock worth $6,745,448 in the last 90 days. 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.