Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Virtus Investment Advisers Inc.

Virtus Investment Advisers Inc. reduced its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 18.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,980 shares of the company’s stock after selling 1,120 shares during the period. Virtus Investment Advisers Inc.’s holdings in Beacon Roofing Supply were worth $506,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Barclays PLC raised its holdings in shares of Beacon Roofing Supply by 272.0% during the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after acquiring an additional 89,222 shares during the last quarter. KBC Group NV increased its position in shares of Beacon Roofing Supply by 45.0% during the 4th quarter. KBC Group NV now owns 2,505 shares of the company’s stock worth $254,000 after purchasing an additional 777 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of Beacon Roofing Supply in the 4th quarter worth approximately $205,000. Trust Point Inc. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at $200,000. Finally, Choreo LLC lifted its position in shares of Beacon Roofing Supply by 30.6% during the fourth quarter. Choreo LLC now owns 10,183 shares of the company’s stock worth $1,014,000 after purchasing an additional 2,383 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jonathan Stuart Bennett sold 8,487 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the transaction, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. This represents a 27.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now directly owns 463 shares of the company’s stock, valued at $57,231.43. This represents a 97.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BECN has been the subject of several analyst reports. Loop Capital reissued a “hold” rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Benchmark reaffirmed a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Baird R W cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $124.35 price objective (down from $130.00) on shares of Beacon Roofing Supply in a research report on Thursday, April 17th. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $124.78.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock opened at $124.17 on Monday. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $124.31. The company has a market cap of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. 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 fifty day moving average of $123.19 and a two-hundred day moving average of $114.82.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. On average, analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

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.