WCM Investment Management LLC Buys 8,054 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

WCM Investment Management LLC boosted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 524,985 shares of the company's stock after buying an additional 8,054 shares during the quarter. WCM Investment Management LLC owned 0.85% of Beacon Roofing Supply worth $46,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Beacon Roofing Supply during the 1st quarter worth $26,000. Blue Trust Inc. lifted its position in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company's stock valued at $28,000 after buying an additional 211 shares during the last quarter. GAMMA Investing LLC increased its stake in Beacon Roofing Supply by 154.0% during the third quarter. GAMMA Investing LLC now owns 734 shares of the company's stock worth $63,000 after purchasing an additional 445 shares during the period. Central Pacific Bank Trust Division increased its stake in Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company's stock worth $108,000 after purchasing an additional 500 shares during the period. Finally, Plato Investment Management Ltd increased its stake in Beacon Roofing Supply by 140.3% during the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company's stock worth $109,000 after purchasing an additional 648 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BECN has been the topic of several analyst reports. Royal Bank of Canada raised their target price 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. Robert W. Baird lifted their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the company an "overweight" rating in a research report on Thursday. Benchmark restated a "buy" rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Finally, Stephens decreased their target price on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply has an average rating of "Moderate Buy" and an average price target of $115.22.

Beacon Roofing Supply Trading Up 1.9 %

Shares of NASDAQ:BECN traded up $1.96 during trading on Monday, reaching $105.21. 637,653 shares of the stock were exchanged, compared to its average volume of 712,846. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 17.98 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 12-month low of $74.79 and a 12-month high of $105.84. The firm's 50-day moving average price is $90.18 and its 200 day moving average price is $92.34. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Insider Buying and Selling at Beacon Roofing Supply

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 directly owns 9,131 shares of the company's stock, valued at $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction dated 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 directly owns 69,449 shares of the company's stock, valued at approximately $7,162,969.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the firm's stock in a transaction dated 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 directly owns 9,131 shares of the company's stock, valued at $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,274 shares of company stock valued at $1,526,146 in the last three months. Corporate insiders own 1.30% of the company's stock.

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.