Shay Capital LLC Buys New Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Shay Capital LLC bought a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, HoldingsChannel reports. The firm bought 7,000 shares of the company’s stock, valued at approximately $711,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $31,000. Johnson Financial Group Inc. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth $54,000. PNC Financial Services Group Inc. increased its holdings in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after buying an additional 163 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after buying an additional 150 shares in the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after buying an additional 196 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Christopher Carl Nelson sold 16,595 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the transaction, the executive vice president now owns 463 shares in the company, valued at $57,231.43. This trade represents a 97.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clement Munroe Best III sold 29,724 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now directly owns 87,943 shares of the company’s stock, valued at $10,821,386.15. This represents a 25.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is currently owned by corporate insiders.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $124.17 on Friday. The business’s fifty day moving average is $123.09 and its two-hundred day moving average is $114.32. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The firm has a market cap of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on BECN shares. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Benchmark reaffirmed a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Royal Bank of Canada cut Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $124.35 in a report on Wednesday, April 2nd. Baird R W lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, StockNews.com assumed coverage on Beacon Roofing Supply in a research report on Monday. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $124.78.

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.