Natixis Advisors LLC Buys 37,347 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Natixis Advisors LLC raised its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 21.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,368 shares of the company's stock after acquiring an additional 37,347 shares during the quarter. Natixis Advisors LLC owned approximately 0.35% of Beacon Roofing Supply worth $18,528,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Beacon Roofing Supply by 14.1% during the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company's stock valued at $689,814,000 after acquiring an additional 872,216 shares during the last quarter. Boston Partners grew its position in shares of Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company's stock worth $126,082,000 after buying an additional 569,627 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Beacon Roofing Supply by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 811,047 shares of the company's stock valued at $73,400,000 after buying an additional 49,040 shares during the last quarter. WCM Investment Management LLC increased its stake in Beacon Roofing Supply by 1.6% during the third quarter. WCM Investment Management LLC now owns 524,985 shares of the company's stock valued at $46,052,000 after purchasing an additional 8,054 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth approximately $39,606,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock traded down $0.04 on Wednesday, hitting $109.20. The company's stock had a trading volume of 169,984 shares, compared to its average volume of 727,668. The firm has a fifty day moving average price of $92.73 and a 200-day moving average price of $92.60. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $116.30. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 18.67 and a beta of 1.54. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BECN. Robert W. Baird increased their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Benchmark restated a "buy" rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an "overweight" rating in a research report on Tuesday. Royal Bank of Canada lifted their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Stephens restated an "equal weight" rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday. Three equities 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, the company currently has an average rating of "Moderate Buy" and an average price target of $118.00.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the company's stock in a transaction on 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 owns 9,131 shares of the company's stock, valued at approximately $821,790. This represents a 22.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the completion of the transaction, the insider now directly owns 69,449 shares in the company, valued at $7,162,969.86. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,274 shares of company stock valued at $1,526,146 over the last quarter. 1.30% of the stock is owned by insiders.

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.