Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 23.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,441 shares of the company’s stock after purchasing an additional 7,924 shares during the quarter. BNP Paribas Financial Markets owned 0.07% of Beacon Roofing Supply worth $3,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BECN. Raymond James & Associates lifted its holdings in shares of Beacon Roofing Supply by 471.8% during the second quarter. Raymond James & Associates now owns 42,029 shares of the company’s stock worth $3,804,000 after purchasing an additional 34,679 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in 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 valued at $73,400,000 after acquiring an additional 49,040 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Beacon Roofing Supply by 45.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,239 shares of the company’s stock valued at $293,000 after acquiring an additional 1,012 shares in the last quarter. SummerHaven Investment Management LLC raised its position in Beacon Roofing Supply by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock valued at $803,000 after acquiring an additional 156 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Beacon Roofing Supply by 20.4% during the second quarter. Bank of New York Mellon Corp now owns 315,893 shares of the company’s stock valued at $28,588,000 after acquiring an additional 53,558 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insiders Place Their Bets

In other news, insider Clement Munroe Best III sold 5,637 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the transaction, the insider now owns 69,514 shares of the company’s stock, valued at $6,984,071.58. This represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the transaction, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. This trade represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,874 shares of company stock valued at $1,812,146. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BECN shares. Stephens reiterated an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Royal Bank of Canada boosted their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating 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. Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply presently has an average rating of “Moderate Buy” and an average price target of $118.00.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN opened at $113.62 on Thursday. The business’s 50 day moving average price is $98.85 and its 200-day moving average price is $93.95. The firm has a market capitalization of $7.03 billion, a PE ratio of 19.42 and a beta of 1.59. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $116.30.

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.