US Bancorp DE Increases Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

US Bancorp DE boosted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,255 shares of the company’s stock after buying an additional 116 shares during the period. US Bancorp DE’s holdings in Beacon Roofing Supply were worth $454,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BECN. Vanguard Group Inc. increased its holdings in shares of Beacon Roofing Supply by 14.1% in the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after purchasing an additional 872,216 shares during the period. Boston Partners boosted its position in Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after purchasing an additional 569,627 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Beacon Roofing Supply in the second quarter valued at $39,606,000. Jupiter Asset Management Ltd. lifted its position in shares of Beacon Roofing Supply by 1,293.8% in the first quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock valued at $39,150,000 after acquiring an additional 370,756 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in Beacon Roofing Supply in the first quarter valued at $35,777,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Transactions at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the transaction, the insider now owns 9,131 shares in the company, valued at approximately $821,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now owns 9,131 shares in the company, valued at $821,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the sale, the insider now owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,274 shares of company stock valued at $1,526,146 over the last three months. Company insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Stock Up 1.9 %

BECN opened at $105.21 on Tuesday. The stock’s fifty day moving average is $90.18 and its 200-day moving average is $92.34. The company has a market capitalization of $6.51 billion, a PE ratio of 17.98 and a beta of 1.54. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a one year low of $74.79 and a one year high of $105.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BECN shares. Royal Bank of Canada raised their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stephens dropped their price objective 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. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and an average price target of $115.22.

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.