Natixis Advisors LLC Buys 10,096 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Natixis Advisors LLC increased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 177,021 shares of the company’s stock after purchasing an additional 10,096 shares during the quarter. Natixis Advisors LLC owned approximately 0.28% of Beacon Roofing Supply worth $16,021,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BECN. New York State Common Retirement Fund lifted its holdings in shares of Beacon Roofing Supply by 8.9% in the 4th quarter. New York State Common Retirement Fund now owns 24,085 shares of the company’s stock worth $2,096,000 after buying an additional 1,968 shares during the period. Victory Capital Management Inc. lifted its stake in Beacon Roofing Supply by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 26,750 shares of the company’s stock worth $2,328,000 after acquiring an additional 191 shares during the period. Natixis Advisors L.P. grew its holdings in Beacon Roofing Supply by 6.3% during the 4th quarter. Natixis Advisors L.P. now owns 113,123 shares of the company’s stock worth $9,843,000 after acquiring an additional 6,699 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Beacon Roofing Supply during the 4th quarter valued at about $36,000. Finally, National Bank of Canada FI bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $2,439,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BECN. Robert W. Baird dropped their price objective on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Stephens cut their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada decreased their price objective on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.30.

Insider Transactions at Beacon Roofing Supply

In other news, CFO Prithvi Gandhi bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at $411,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Beacon Roofing Supply news, CFO Prithvi Gandhi purchased 5,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $82.29 per share, with a total value of $411,450.00. Following the completion of the acquisition, the chief financial officer now owns 5,000 shares in the company, valued at $411,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the sale, the executive vice president now directly owns 320 shares in the company, valued at $27,200. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Trading Down 1.7 %

Shares of Beacon Roofing Supply stock opened at $84.69 on Thursday. Beacon Roofing Supply, Inc. has a 12-month low of $68.50 and a 12-month high of $105.42. The firm’s 50 day simple moving average is $90.89 and its two-hundred day simple moving average is $93.04. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -134.43 and a beta of 1.55.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company earned $2.66 earnings per share. Beacon Roofing Supply’s revenue was up 6.8% on a year-over-year basis. Analysts predict that Beacon Roofing Supply, Inc. will post 7.46 EPS for the current year.

About Beacon Roofing Supply

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.