Integrated Wealth Concepts LLC Decreases Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Integrated Wealth Concepts LLC lessened its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,539 shares of the company’s stock after selling 472 shares during the period. Integrated Wealth Concepts LLC’s holdings in Beacon Roofing Supply were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Beacon Roofing Supply during the third quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after purchasing an additional 445 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in Beacon Roofing Supply by 66.7% in the third 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, Huntington National Bank increased its position in shares of Beacon Roofing Supply by 14.1% during the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after purchasing an additional 206 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Down 0.9 %

NASDAQ:BECN opened at $107.95 on Friday. The firm has a market capitalization of $6.68 billion, a P/E ratio of 18.45 and a beta of 1.59. The company’s fifty day moving average price is $101.68 and its 200-day moving average price is $94.53. 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.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BECN. 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 research report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Robert W. Baird upped their price objective 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. Stephens reaffirmed 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.00.

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.