State Street Corp Has $127.18 Million Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

State Street Corp lifted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,471,500 shares of the company’s stock after buying an additional 15,505 shares during the period. State Street Corp owned about 2.38% of Beacon Roofing Supply worth $127,182,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BECN. Intech Investment Management LLC acquired a new stake in Beacon Roofing Supply during the 3rd quarter worth about $1,441,000. BNP Paribas Financial Markets lifted its position in shares of Beacon Roofing Supply by 23.0% in the third quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company’s stock worth $3,668,000 after purchasing an additional 7,924 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Beacon Roofing Supply during the third quarter worth approximately $4,331,000. Vaughan Nelson Investment Management L.P. grew its position in Beacon Roofing Supply by 18.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock valued at $83,239,000 after purchasing an additional 152,030 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Beacon Roofing Supply by 1,192.1% in the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock valued at $44,398,000 after buying an additional 473,937 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply 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 of the company’s stock, valued at $718,410. The trade was a 28.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were 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 directly owns 69,449 shares of the company’s stock, valued at $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,874 shares of company stock valued at $1,812,146. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BECN. Stephens reissued an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Royal Bank of Canada lifted 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 upped their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Beacon Roofing Supply Stock Down 1.5 %

Shares of Beacon Roofing Supply stock opened at $106.35 on Friday. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $116.30. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The stock has a 50 day moving average price of $102.03 and a two-hundred day moving average price of $94.58. The stock has a market capitalization of $6.58 billion, a P/E ratio of 18.18 and a beta of 1.59.

About Beacon Roofing Supply

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.