WCM Investment Management LLC Sells 19,553 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

WCM Investment Management LLC lowered its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 505,432 shares of the company's stock after selling 19,553 shares during the period. WCM Investment Management LLC owned about 0.82% of Beacon Roofing Supply worth $50,311,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BECN. Harvey Investment Co. LLC bought a new stake in Beacon Roofing Supply during the fourth quarter worth approximately $203,000. Meritage Portfolio Management boosted its stake in shares of Beacon Roofing Supply by 7.2% during the 4th quarter. Meritage Portfolio Management now owns 4,290 shares of the company's stock worth $436,000 after acquiring an additional 288 shares in the last quarter. Choreo LLC grew its holdings in shares of Beacon Roofing Supply by 30.6% in the 4th quarter. Choreo LLC now owns 10,183 shares of the company's stock worth $1,014,000 after acquiring an additional 2,383 shares during the last quarter. Trust Point Inc. acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $200,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $205,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BECN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Wednesday, February 5th. They issued a "sell" rating on the stock. Benchmark restated a "buy" rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Stephens reiterated an "equal weight" rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, BMO Capital Markets increased their target price on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an "outperform" rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of "Hold" and a consensus target price of $120.17.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN traded down $0.25 during trading on Wednesday, reaching $119.19. The stock had a trading volume of 485,824 shares, compared to its average volume of 1,067,008. The stock has a fifty day simple moving average of $109.99 and a two-hundred day simple moving average of $99.10. 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 52 week low of $77.54 and a 52 week high of $121.42. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 20.37 and a beta of 1.62.

Insider Activity

In related news, insider Jason L. Taylor sold 2,600 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the transaction, the insider now directly owns 6,531 shares in the company, valued at $718,410. This represents a 28.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply 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.