Charles Schwab Investment Management Inc. Acquires 5,497 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Charles Schwab Investment Management Inc. increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 603,748 shares of the company’s stock after acquiring an additional 5,497 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.98% of Beacon Roofing Supply worth $52,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BECN. Intech Investment Management LLC bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth $1,441,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Beacon Roofing Supply in the third quarter worth about $4,331,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Beacon Roofing Supply by 18.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock valued at $83,239,000 after acquiring an additional 152,030 shares during the period. Janus Henderson Group PLC increased its stake in shares of Beacon Roofing Supply by 34.7% during the 1st quarter. Janus Henderson Group PLC now owns 34,673 shares of the company’s stock worth $3,396,000 after purchasing an additional 8,932 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Beacon Roofing Supply by 21.1% in the 3rd quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock worth $18,528,000 after purchasing an additional 37,347 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 0.2 %

Shares of BECN opened at $113.02 on Friday. The business’s 50 day simple moving average is $97.15 and its 200-day simple moving average is $93.62. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $116.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 19.32 and a beta of 1.54.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BECN shares. Royal Bank of Canada upped 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. Robert W. Baird increased their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Stephens restated an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Insider Activity at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction that occurred 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 completion of the transaction, the insider now owns 69,449 shares in the company, valued at approximately $7,162,969.86. The trade was a 9.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now directly owns 9,131 shares in the company, valued at approximately $821,790. This represents a 22.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,874 shares of company stock valued at $1,812,146 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

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.