Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC increased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 126.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,865 shares of the company’s stock after acquiring an additional 1,599 shares during the period. Headlands Technologies LLC’s holdings in Beacon Roofing Supply were worth $249,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its position in Beacon Roofing Supply by 49.4% in the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after acquiring an additional 161 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Beacon Roofing Supply by 2.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,290 shares of the company’s stock worth $485,000 after buying an additional 169 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Beacon Roofing Supply by 5.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,209 shares of the company’s stock worth $325,000 after buying an additional 200 shares during the period. Meritage Portfolio Management raised its stake in shares of Beacon Roofing Supply by 5.7% in the fourth quarter. Meritage Portfolio Management now owns 3,888 shares of the company’s stock valued at $338,000 after acquiring an additional 210 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Beacon Roofing Supply by 4.5% in the third quarter. Amalgamated Bank now owns 5,411 shares of the company’s stock valued at $418,000 after acquiring an additional 234 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $99.00 on Friday. Beacon Roofing Supply, Inc. has a fifty-two week low of $57.01 and a fifty-two week high of $102.83. The stock has a 50-day simple moving average of $92.59 and a 200-day simple moving average of $85.20. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.22). The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The business’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS. As a group, research analysts forecast that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current year.

Insider Activity at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now owns 10,531 shares in the company, valued at approximately $1,000,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the transaction, the insider now owns 10,531 shares in the company, valued at approximately $1,000,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher Carl Nelson sold 3,268 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the transaction, the executive vice president now owns 176 shares in the company, valued at approximately $16,521.12. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

BECN has been the topic of several analyst reports. BMO Capital Markets increased their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. cut their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. StockNews.com upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Finally, TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.92.

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.