Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock Position Reduced by Stifel Financial Corp

Stifel Financial Corp reduced its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 59.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,317 shares of the company's stock after selling 7,721 shares during the period. Stifel Financial Corp's holdings in Beacon Roofing Supply were worth $460,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BECN. US Bancorp DE increased its stake in shares of Beacon Roofing Supply by 2.3% in the third quarter. US Bancorp DE now owns 5,255 shares of the company's stock valued at $454,000 after purchasing an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Beacon Roofing Supply by 2.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company's stock worth $501,000 after buying an additional 147 shares in the last quarter. Equitable Trust Co. increased its position in Beacon Roofing Supply by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 7,106 shares of the company's stock valued at $614,000 after acquiring an additional 156 shares during the period. HighTower Advisors LLC raised its stake in Beacon Roofing Supply by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock valued at $234,000 after acquiring an additional 181 shares in the last quarter. Finally, Quarry LP boosted its position in Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company's stock worth $26,000 after acquiring an additional 197 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Insider Transactions at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the sale, the insider now owns 69,449 shares in the company, valued at $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction on Monday, October 7th. The shares were 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 in the company, valued at $821,790. This represents a 22.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,874 shares of company stock valued at $1,812,146 over the last three months. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BECN shares. Stephens restated an "equal weight" rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 19th. Royal Bank of Canada increased their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Benchmark reiterated a "buy" rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Finally, Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $117.88.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN traded down $1.62 during trading on Friday, hitting $100.32. The company had a trading volume of 756,710 shares, compared to its average volume of 712,474. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $116.30. The business's 50-day moving average is $103.63 and its 200 day moving average is $94.98. The company has a market cap of $6.21 billion, a P/E ratio of 17.15 and a beta of 1.59. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

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.