Caprock Group LLC Reduces Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Caprock Group LLC cut its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,133 shares of the company’s stock after selling 192 shares during the period. Caprock Group LLC’s holdings in Beacon Roofing Supply were worth $789,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BECN. Boston Partners lifted its holdings in shares of Beacon Roofing Supply by 79.6% in the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after purchasing an additional 569,627 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised 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 worth $83,239,000 after purchasing an additional 152,030 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in Beacon Roofing Supply in the 1st quarter valued at approximately $572,000. Janus Henderson Group PLC grew its holdings in Beacon Roofing Supply by 34.7% during the 1st quarter. Janus Henderson Group PLC now owns 34,673 shares of the company’s stock valued at $3,396,000 after buying an additional 8,932 shares during the last quarter. Finally, Comerica Bank increased its position in Beacon Roofing Supply by 109.5% during the first quarter. Comerica Bank now owns 89,967 shares of the company’s stock worth $8,818,000 after buying an additional 47,028 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction dated 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 sale, the insider now owns 69,449 shares in the company, valued at approximately $7,162,969.86. This trade represents a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the transaction, 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. Insiders sold 17,874 shares of company stock valued at $1,812,146 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Trading Up 0.3 %

NASDAQ BECN opened at $109.30 on Friday. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 18.68 and a beta of 1.54. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $116.30. The company’s 50 day moving average price is $93.31 and its 200 day moving average price is $92.71.

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.