Rockefeller Capital Management L.P. Takes $2.05 Million Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Rockefeller Capital Management L.P. bought a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,188 shares of the company's stock, valued at approximately $2,051,000.

A number of other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in Beacon Roofing Supply during the fourth quarter worth about $31,000. PNC Financial Services Group Inc. grew its stake in Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after buying an additional 163 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after acquiring an additional 150 shares in the last quarter. Principal Securities Inc. boosted its position in Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock worth $140,000 after purchasing an additional 196 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in Beacon Roofing Supply during the 4th quarter worth $152,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Beacon Roofing Supply Stock Performance

NASDAQ BECN traded up $0.05 on Thursday, hitting $124.06. The stock had a trading volume of 1,283,310 shares, compared to its average volume of 1,149,661. 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, Inc. has a one year low of $77.54 and a one year high of $124.17. The company's 50-day moving average is $120.39 and its two-hundred day moving average is $110.98. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 21.21 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Insider Activity

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was 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 of the company's stock, valued at approximately $57,231.43. This represents a 97.29 % 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 Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction on Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the transaction, the insider now owns 22,642 shares in the company, valued at $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. Insiders sold a total of 54,806 shares of company stock worth $6,745,448 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BECN shares. Loop Capital restated a "hold" rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Royal Bank of Canada downgraded Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lifted their price objective for the stock from $124.00 to $124.35 in a report on Wednesday, April 2nd. Baird R W downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Finally, Raymond James cut shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. One investment 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. According to MarketBeat, Beacon Roofing Supply currently has an average rating of "Hold" and a consensus target price of $121.47.

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.