Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Bought by American International Group Inc.

American International Group Inc. raised its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,836 shares of the company’s stock after purchasing an additional 1,890 shares during the quarter. American International Group Inc.’s holdings in Beacon Roofing Supply were worth $2,509,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Rhumbline Advisers increased its stake in shares of Beacon Roofing Supply by 11.4% during the third quarter. Rhumbline Advisers now owns 92,893 shares of the company’s stock worth $7,169,000 after acquiring an additional 9,500 shares during the period. Hsbc Holdings PLC increased its stake in shares of Beacon Roofing Supply by 145.5% during the third quarter. Hsbc Holdings PLC now owns 75,186 shares of the company’s stock worth $5,834,000 after acquiring an additional 44,564 shares during the period. Federated Hermes Inc. increased its stake in shares of Beacon Roofing Supply by 187.9% during the third quarter. Federated Hermes Inc. now owns 89,048 shares of the company’s stock worth $6,872,000 after acquiring an additional 58,114 shares during the period. Northern Trust Corp increased its stake in shares of Beacon Roofing Supply by 1.2% during the third quarter. Northern Trust Corp now owns 821,996 shares of the company’s stock worth $63,433,000 after acquiring an additional 10,111 shares during the period. Finally, Natixis Advisors L.P. increased its stake in shares of Beacon Roofing Supply by 1.9% during the third quarter. Natixis Advisors L.P. now owns 106,424 shares of the company’s stock worth $8,213,000 after acquiring an additional 1,964 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Stock Down 1.2 %

Shares of NASDAQ BECN opened at $92.88 on Tuesday. Beacon Roofing Supply, Inc. has a 12-month low of $68.50 and a 12-month high of $103.75. The company has a market capitalization of $5.91 billion, a PE ratio of -147.43 and a beta of 1.58. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.87 and a quick ratio of 1.02. The firm’s 50-day moving average is $96.29 and its two-hundred day moving average is $91.05.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. Equities analysts anticipate that Beacon Roofing Supply, Inc. will post 7.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BECN. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Loop Capital boosted their price objective on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. StockNews.com downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Finally, Truist Financial boosted their price objective on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.45.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the sale, the executive vice president now owns 176 shares of the company’s stock, valued at $16,521.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

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.