Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,122 shares of the company’s stock after selling 117 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Beacon Roofing Supply were worth $270,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Capstone Investment Advisors LLC acquired a new position in Beacon Roofing Supply in the 1st quarter valued at $1,664,000. Principal Financial Group Inc. raised its holdings in Beacon Roofing Supply by 549.8% in the 1st quarter. Principal Financial Group Inc. now owns 46,932 shares of the company’s stock valued at $4,600,000 after acquiring an additional 39,710 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Beacon Roofing Supply by 15.3% in the 1st quarter. Acadian Asset Management LLC now owns 374,276 shares of the company’s stock valued at $36,671,000 after acquiring an additional 49,634 shares during the last quarter. Boston Partners raised its holdings in Beacon Roofing Supply by 79.6% in the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Finally, Blair William & Co. IL acquired a new position in Beacon Roofing Supply in the 1st quarter valued at $644,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on BECN. Stephens cut their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Royal Bank of Canada cut their price target on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Robert W. Baird boosted their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Moderate Buy” and an average price target of $114.33.

Beacon Roofing Supply Stock Down 1.8 %

Shares of Beacon Roofing Supply stock opened at $93.13 on Wednesday. The company has a fifty day moving average price of $88.48 and a 200 day moving average price of $92.23. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. Beacon Roofing Supply, Inc. has a twelve month low of $69.32 and a twelve month high of $105.42. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of -148.54 and a beta of 1.55.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the company posted $2.66 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christopher Carl Nelson sold 1,627 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the completion of the sale, the executive vice president now directly owns 320 shares of the company’s stock, valued at approximately $27,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 completion of the transaction, the executive vice president now owns 320 shares of the company’s stock, valued at approximately $27,200. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the sale, the insider now owns 9,131 shares in the company, valued at $821,790. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.