Raymond James Financial Inc. Invests $24.16 Million in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Raymond James Financial Inc. purchased a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 237,864 shares of the company's stock, valued at approximately $24,162,000. Raymond James Financial Inc. owned approximately 0.38% of Beacon Roofing Supply at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BECN. Norges Bank acquired a new position in Beacon Roofing Supply during the fourth quarter worth $94,573,000. Blue Grotto Capital LLC acquired a new position in Beacon Roofing Supply in the fourth quarter worth $23,726,000. Barclays PLC raised its position in Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company's stock worth $10,547,000 after purchasing an additional 89,222 shares during the last quarter. Invesco Ltd. boosted its holdings in Beacon Roofing Supply by 7.4% in the fourth quarter. Invesco Ltd. now owns 1,248,349 shares of the company's stock valued at $126,807,000 after acquiring an additional 86,209 shares during the last quarter. Finally, Boston Partners grew its position in shares of Beacon Roofing Supply by 1.3% during the 4th quarter. Boston Partners now owns 4,531,106 shares of the company's stock worth $462,417,000 after buying an additional 59,630 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Beacon Roofing Supply Trading Up 0.6 %

NASDAQ:BECN opened at $123.85 on Friday. The firm's 50 day moving average is $120.02 and its 200 day moving average is $109.95. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $123.90. The stock has a market capitalization of $7.65 billion, a PE ratio of 21.17 and a beta of 1.31. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) 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 company had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.43 billion. Sell-side analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on BECN shares. 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. Benchmark restated a "buy" rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. BMO Capital Markets restated a "market perform" rating and issued a $124.35 price objective (down previously from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday. Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada lowered shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and increased their price target for the stock from $124.00 to $124.35 in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of "Hold" and a consensus target price of $121.47.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 463 shares in the company, valued at $57,231.43. This trade represents a 97.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction on Monday, April 7th. The shares were 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 $2,765,493.88. The trade was a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,806 shares of company stock valued at $6,745,448 in the last 90 days. Corporate 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.

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