Beacon Roofing Supply Inc. (BECN)

Amalgamated Bank Cuts Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Amalgamated Bank cut its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,284 shares of the company’s stock after selling 127 shares during the quarter. Amalgamated Bank’s holdings in Beacon Roofing Supply were worth $460,000 at the end of the most recent quarter. A number of other large investors also recently modified their holdings of the company. Natixis Advisors L.P. boosted its position in Beacon Roofing Supply by 6.3% during the 4th quarter. Natixis Advisors L.P. now owns 113,123 shares of the company’s stock worth $9,843,000 after purchasing an additional 6,699 shares during the period. Victory Capital Management Inc. lifted its position in shares of Beacon Roofing Supply by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 26,750 shares of the company’s stock worth $2,328,000 after purchasing an additional 191 shares in the last quarter. Mach 1 Financial Group LLC purchased a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $470,000. SummerHaven Investment Management LLC grew its holdings in Beacon Roofing Supply by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock valued at $749,000 after purchasing an additional 129 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Beacon Roofing Supply by 126.3% in the 4th quarter. Headlands Technologies LLC now owns 2,865 shares of the company’s stock worth $249,000 after buying an additional 1,599 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors. Beacon Roofing Supply Stock Performance Shares of NASDAQ BECN opened at $96.09 on Monday. Beacon Roofing Supply, Inc. has a 52-week low of $63.10 and a 52-week high of $103.75. The stock has a market capitalization of $6.11 billion, a P/E ratio of -152.52 and a beta of 1.59. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47. The firm’s 50-day moving average price is $95.48 and its two-hundred day moving average price is $87.82. Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the firm earned $1.18 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.8 earnings per share for the current year. Insider Transactions at Beacon Roofing Supply In related news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the transaction, the executive vice president now owns 176 shares in the company, valued at $16,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Christopher Carl Nelson sold 3,268 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the sale, the executive vice president now directly owns 176 shares in the company, valued at approximately $16,521.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock. Analyst Upgrades and Downgrades A number of brokerages have recently issued reports on BECN. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Loop Capital increased their target price on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, April 1st. StockNews.com cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets boosted their target price on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply has an average rating of “Moderate Buy” and a consensus target price of $107.64. Check Out Our Latest Analysis on Beacon Roofing Supply About Beacon Roofing Supply (Free Report) 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.