Vaughan Nelson Investment Management L.P. Purchases 152,030 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Vaughan Nelson Investment Management L.P. raised its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 18.7% during the third quarter, HoldingsChannel reports. The firm owned 963,077 shares of the company’s stock after acquiring an additional 152,030 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Beacon Roofing Supply were worth $83,239,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BECN. Allspring Global Investments Holdings LLC acquired a new stake in Beacon Roofing Supply in the first quarter valued at about $26,000. Blue Trust Inc. raised its stake in Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after acquiring an additional 211 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after acquiring an additional 445 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Beacon Roofing Supply by 66.7% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after purchasing an additional 500 shares in the last quarter. Finally, Plato Investment Management Ltd grew its holdings in shares of Beacon Roofing Supply by 140.3% during the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after purchasing an additional 648 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Trading Down 2.2 %

Shares of BECN stock opened at $98.75 on Friday. The company has a market cap of $6.11 billion, a P/E ratio of 16.88 and a beta of 1.54. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $105.84. The stock has a 50 day simple moving average of $91.58 and a two-hundred day simple moving average of $92.46. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Insider Activity

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the sale, the insider now owns 9,131 shares of the company’s stock, valued at approximately $821,790. This trade represents a 22.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the transaction, the insider now directly owns 69,449 shares in the company, valued at $7,162,969.86. The trade was a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,274 shares of company stock worth $1,526,146 in the last quarter. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BECN has been the subject of several research reports. Stephens dropped their price objective on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their target price on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Finally, Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.22.

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.