WCM Investment Management LLC Cuts Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

WCM Investment Management LLC lessened its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 3.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 505,432 shares of the company’s stock after selling 19,553 shares during the quarter. WCM Investment Management LLC’s holdings in Beacon Roofing Supply were 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 bought and sold shares of BECN. FMR LLC grew its stake in Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after buying an additional 963,633 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Beacon Roofing Supply by 1,449.0% in the 3rd quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after acquiring an additional 575,852 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Beacon Roofing Supply by 1,192.1% in the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock worth $44,398,000 after acquiring an additional 473,937 shares during the last quarter. 140 Summer Partners LP bought a new stake in shares of Beacon Roofing Supply in the 3rd quarter worth approximately $29,343,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Beacon Roofing Supply by 18.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock worth $83,239,000 after acquiring an additional 152,030 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Down 0.7 %

Shares of NASDAQ BECN opened at $119.70 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $121.42. The firm has a market capitalization of $7.41 billion, a PE ratio of 20.46 and a beta of 1.62. The firm has a fifty day simple moving average of $109.63 and a two-hundred day simple moving average of $98.67.

Insiders Place Their Bets

In other Beacon Roofing Supply 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 value of $286,000.00. Following the completion of the transaction, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. This represents a 28.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

BECN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada boosted their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. StockNews.com started coverage on shares of Beacon Roofing Supply in a report on Wednesday. They issued a “sell” rating for the company. Finally, Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price target for the company from $131.00 to $122.55 in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $120.17.

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.