Sequoia Financial Advisors LLC Buys New Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Sequoia Financial Advisors LLC bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,911 shares of the company’s stock, valued at approximately $253,000.

Several other large investors also recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. grew its position in Beacon Roofing Supply by 4.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 662,657 shares of the company’s stock valued at $57,665,000 after buying an additional 27,185 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Beacon Roofing Supply by 8.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,137 shares of the company’s stock valued at $2,274,000 after buying an additional 2,112 shares during the period. New York State Teachers Retirement System boosted its position in shares of Beacon Roofing Supply by 46.1% in the fourth quarter. New York State Teachers Retirement System now owns 5,190 shares of the company’s stock worth $452,000 after purchasing an additional 1,638 shares during the period. Arizona State Retirement System boosted its position in shares of Beacon Roofing Supply by 3.8% in the fourth quarter. Arizona State Retirement System now owns 14,993 shares of the company’s stock worth $1,305,000 after purchasing an additional 551 shares during the period. Finally, Sendero Wealth Management LLC boosted its position in shares of Beacon Roofing Supply by 10.2% in the fourth quarter. Sendero Wealth Management LLC now owns 9,440 shares of the company’s stock worth $821,000 after purchasing an additional 875 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Insider Activity at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 1,805 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the sale, the insider now owns 10,531 shares of the company’s stock, valued at $1,000,445. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction 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 owns 176 shares of the company’s stock, valued at $16,521.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BECN. Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $99.00 to $115.00 in a research report on Thursday, February 29th. BMO Capital Markets upped their price target 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. StockNews.com upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Tuesday. William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Finally, Loop Capital upped their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.92.

Beacon Roofing Supply Price Performance

BECN stock opened at $94.56 on Friday. The company has a market capitalization of $6.00 billion, a PE ratio of -201.19 and a beta of 1.63. The company’s fifty day moving average price is $91.47 and its 200-day moving average price is $84.40. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. Beacon Roofing Supply, Inc. has a one year low of $56.94 and a one year high of $102.83.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly 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). The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. Beacon Roofing Supply’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 EPS. On average, equities analysts anticipate that Beacon Roofing Supply, Inc. will post 7.85 EPS for the current fiscal year.

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.