KBC Group NV Acquires 297 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

KBC Group NV grew its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 20.8% in the 3rd quarter, Holdings Channel reports. The fund owned 1,728 shares of the company’s stock after purchasing an additional 297 shares during the quarter. KBC Group NV’s holdings in Beacon Roofing Supply were worth $149,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Blue Trust Inc. increased its holdings in Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Beacon Roofing Supply by 154.0% during the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after buying an additional 445 shares in the last quarter. Central Pacific Bank Trust Division raised 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 valued at $108,000 after buying an additional 500 shares during the last quarter. Plato Investment Management Ltd lifted its stake in Beacon Roofing Supply by 140.3% in the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after acquiring an additional 648 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Beacon Roofing Supply by 177.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,535 shares of the company’s stock worth $154,000 after acquiring an additional 982 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of the business’s 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 in the company, valued at $6,984,071.58. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason L. Taylor sold 2,600 shares of the firm’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 sale, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. This represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN opened at $109.30 on Friday. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $116.30. The company’s 50 day moving average price is $93.31 and its two-hundred day moving average price is $92.71. The firm has a market cap of $6.76 billion, a PE ratio of 18.68 and a beta of 1.54. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BECN shares. JPMorgan Chase & Co. boosted their price objective 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. Benchmark reissued a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Royal Bank of Canada raised their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stephens reiterated an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday. Finally, Robert W. Baird raised their price target 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.00.

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.