Phoenix Financial Ltd. Takes Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Phoenix Financial Ltd. bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,141 shares of the company's stock, valued at approximately $421,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply during the fourth quarter valued at $31,000. Quarry LP raised its position in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after buying an additional 197 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of 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 last quarter. Nomura Asset Management Co. Ltd. grew its position in Beacon Roofing Supply by 26.3% in 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 in the last quarter. Finally, Principal Securities Inc. increased 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 acquiring an additional 196 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the transaction, the executive vice president now owns 463 shares in the company, valued at approximately $57,231.43. This represents a 97.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the completion of the sale, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. The trade was a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is currently owned by insiders.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on BECN shares. Raymond James lowered Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. BMO Capital Markets lowered their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a report on Thursday, April 10th. They issued a "sell" rating for the company. Finally, Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $122.10.

Beacon Roofing Supply Trading Down 0.2 %

NASDAQ:BECN traded down $0.25 during midday trading on Tuesday, hitting $123.13. The stock had a trading volume of 1,825,818 shares, compared to its average volume of 1,114,821. The stock has a 50-day moving average of $119.80 and a 200 day moving average of $109.50. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 21.05 and a beta of 1.31. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $123.90. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

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

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.