State of New Jersey Common Pension Fund D Has $2.02 Million Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

State of New Jersey Common Pension Fund D cut its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 6.2% during the third quarter, HoldingsChannel.com reports. The firm owned 23,378 shares of the company’s stock after selling 1,545 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Beacon Roofing Supply were worth $2,021,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Beacon Roofing Supply during the first quarter worth approximately $26,000. Blue Trust Inc. raised its position in shares of Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after purchasing an additional 445 shares during the period. Central Pacific Bank Trust Division boosted its position in shares of Beacon Roofing Supply by 66.7% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after purchasing an additional 500 shares during the last quarter. Finally, Plato Investment Management Ltd grew its stake in shares of Beacon Roofing Supply by 140.3% during the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after purchasing an additional 648 shares during the period. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BECN shares. JPMorgan Chase & Co. increased their target price on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Stephens cut their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Royal Bank of Canada increased their target price 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. Finally, Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and an average target price of $115.22.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the completion of the transaction, the insider now owns 69,449 shares of the company’s stock, valued at $7,162,969.86. This represents a 9.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction that occurred 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 directly owns 9,131 shares of the company’s stock, valued at $821,790. This represents a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,274 shares of company stock valued at $1,526,146 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply Trading Down 2.2 %

Shares of NASDAQ:BECN opened at $98.75 on Friday. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 16.88 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $105.84. The company’s fifty day simple moving average is $91.58 and its 200 day simple moving average is $92.46. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

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.