Assenagon Asset Management S.A. Buys 22,971 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Assenagon Asset Management S.A. raised its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 209,547 shares of the company's stock after acquiring an additional 22,971 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.33% of Beacon Roofing Supply worth $18,111,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Beacon Roofing Supply by 14.1% in the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company's stock valued at $689,814,000 after purchasing an additional 872,216 shares during the period. Boston Partners lifted its position in Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company's stock valued at $126,082,000 after buying an additional 569,627 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Beacon Roofing Supply during the 2nd quarter valued at $39,606,000. Jupiter Asset Management Ltd. grew its position in shares of Beacon Roofing Supply by 1,293.8% in the 1st quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company's stock worth $39,150,000 after buying an additional 370,756 shares during the period. Finally, Zimmer Partners LP bought a new position in shares of Beacon Roofing Supply in the 1st quarter worth about $35,777,000. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Stock Down 1.0 %

BECN stock traded down $0.93 during midday trading on Friday, hitting $93.36. The company's stock had a trading volume of 652,252 shares, compared to its average volume of 709,989. The firm's 50-day moving average is $88.32 and its 200-day moving average is $92.25. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. Beacon Roofing Supply, Inc. has a 12 month low of $68.50 and a 12 month high of $105.42. The company has a market cap of $5.94 billion, a PE ratio of -148.19 and a beta of 1.55.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the company earned $2.66 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Stephens lowered their target price on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an "equal weight" rating for the company in a report on Monday, August 5th. Finally, Robert W. Baird upped their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply has an average rating of "Moderate Buy" and an average price target of $114.33.

Insider Transactions at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the transaction, the executive vice president now owns 320 shares in the company, valued at $27,200. This represents a 0.00 % 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. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now directly owns 9,131 shares of the company's stock, valued at approximately $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 1,627 shares of the business's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total value of $138,295.00. Following the sale, the executive vice president now owns 320 shares of the company's stock, valued at approximately $27,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.