MML Investors Services LLC Takes $268,000 Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

MML Investors Services LLC purchased a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the third quarter, Holdings Channel reports. The institutional investor purchased 3,100 shares of the company’s stock, valued at approximately $268,000.

Several other large investors have also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in 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 in the last quarter. Quarry LP boosted its holdings in shares of Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Beacon Roofing Supply during the third quarter valued at approximately $28,000. GAMMA Investing LLC increased its stake in 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 buying an additional 445 shares during the period. Finally, Central Pacific Bank Trust Division lifted its position in 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 buying an additional 500 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. This represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the business’s 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 transaction, the insider now directly owns 9,131 shares in the company, valued at $821,790. This trade represents a 22.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,874 shares of company stock worth $1,812,146 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply Trading Down 0.0 %

NASDAQ:BECN opened at $101.30 on Thursday. The company’s 50 day moving average is $103.30 and its 200-day moving average is $94.86. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $116.30. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 17.32 and a beta of 1.59.

Wall Street Analyst Weigh In

BECN has been the topic of several research analyst reports. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Robert W. Baird boosted their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stephens reaffirmed an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Royal Bank of Canada boosted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.88.

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.