California Public Employees Retirement System Raises Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

California Public Employees Retirement System lifted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECNFree Report) by 39.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,453 shares of the company’s stock after acquiring an additional 18,271 shares during the period. California Public Employees Retirement System owned 0.10% of Beacon Roofing Supply worth $5,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BECN. Parkside Financial Bank & Trust increased its stake in Beacon Roofing Supply by 49.4% in the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after purchasing an additional 161 shares during the period. Exchange Traded Concepts LLC increased its position in Beacon Roofing Supply by 63.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after acquiring an additional 325 shares during the period. Headlands Technologies LLC acquired a new stake in Beacon Roofing Supply during the 3rd quarter worth approximately $98,000. CI Investments Inc. acquired a new stake in Beacon Roofing Supply during the 3rd quarter worth approximately $157,000. Finally, AlphaMark Advisors LLC purchased a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at approximately $244,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Beacon Roofing Supply

In other 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 completion of the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction 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 disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

BECN has been the subject of several analyst reports. Robert W. Baird upped their price target on Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. Loop Capital increased their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Truist Financial lifted their price objective on Beacon Roofing Supply from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday. Finally, StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.33.

Read Our Latest Stock Report on Beacon Roofing Supply

Beacon Roofing Supply Stock Down 1.7 %

BECN opened at $95.89 on Friday. Beacon Roofing Supply, Inc. has a one year low of $57.01 and a one year high of $103.75. The company has a market cap of $6.08 billion, a price-to-earnings ratio of -152.21 and a beta of 1.59. The business’s fifty day moving average is $93.77 and its two-hundred day moving average is $86.01. 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 (NASDAQ:BECNGet Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.31% and a net margin of 4.47%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Beacon Roofing Supply’s quarterly revenue was up 16.8% on a year-over-year basis. Analysts anticipate that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current fiscal year.

Beacon Roofing Supply Company Profile

(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.

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Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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