Natixis Advisors LLC Boosts Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Natixis Advisors LLC lifted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 21.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 214,368 shares of the company’s stock after acquiring an additional 37,347 shares during the period. Natixis Advisors LLC owned approximately 0.35% of Beacon Roofing Supply worth $18,528,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Beacon Roofing Supply by 14.1% during the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after buying an additional 872,216 shares during the period. Boston Partners increased its position in shares of 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. Vaughan Nelson Investment Management L.P. increased its position in shares of Beacon Roofing Supply by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 811,047 shares of the company’s stock worth $73,400,000 after purchasing an additional 49,040 shares in the last quarter. WCM Investment Management LLC grew its holdings in Beacon Roofing Supply by 1.6% in the 3rd quarter. WCM Investment Management LLC now owns 524,985 shares of the company’s stock valued at $46,052,000 after buying an additional 8,054 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in Beacon Roofing Supply in the 2nd quarter valued at $39,606,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BECN. Stephens restated an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday. Benchmark reiterated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Royal Bank of Canada increased their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Robert W. Baird increased their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of the 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 completion of the sale, the insider now owns 9,131 shares in the company, valued at approximately $821,790. This represents a 22.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction on 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 represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,274 shares of company stock valued at $1,526,146. 1.30% of the stock is owned by corporate insiders.

Beacon Roofing Supply Stock Up 0.7 %

NASDAQ:BECN opened at $109.24 on Wednesday. The firm has a market capitalization of $6.76 billion, a PE ratio of 18.67 and a beta of 1.54. The stock has a 50 day moving average of $92.73 and a 200-day moving average of $92.60. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $116.30. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

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.