Quantbot Technologies LP Raises Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Quantbot Technologies LP increased its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 169.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,529 shares of the company's stock after purchasing an additional 14,788 shares during the period. Quantbot Technologies LP's holdings in Beacon Roofing Supply were worth $2,034,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in shares of Beacon Roofing Supply in the third quarter worth $1,441,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Beacon Roofing Supply in the 3rd quarter valued at $4,331,000. Vaughan Nelson Investment Management L.P. lifted its stake in Beacon Roofing Supply by 18.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company's stock worth $83,239,000 after purchasing an additional 152,030 shares in the last quarter. Boston Partners boosted its holdings in shares of Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company's stock valued at $126,082,000 after purchasing an additional 569,627 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Beacon Roofing Supply by 1,192.1% during the third quarter. Citigroup Inc. now owns 513,692 shares of the company's stock valued at $44,398,000 after purchasing an additional 473,937 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Trading Up 0.2 %

Shares of Beacon Roofing Supply stock traded up $0.23 during trading on Friday, hitting $113.02. The stock had a trading volume of 210,883 shares, compared to its average volume of 727,505. The stock has a market cap of $6.99 billion, a PE ratio of 19.28 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $116.30. The firm's fifty day simple moving average is $96.60 and its 200-day simple moving average is $93.50. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the 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 sale, the insider now owns 9,131 shares in the company, valued at $821,790. This trade represents a 22.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total transaction of $566,349.39. Following the completion of the transaction, the insider now owns 69,514 shares in the company, valued at approximately $6,984,071.58. The trade was a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,874 shares of company stock valued at $1,812,146 over the last 90 days. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

BECN has been the topic of a number of research analyst reports. Benchmark reiterated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an "overweight" rating in a report on Tuesday, November 19th. Stephens reissued an "equal weight" rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Royal Bank of Canada upped their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Robert W. Baird lifted their price objective on shares of 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.00.

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.