Tower Research Capital LLC TRC Sells 1,419 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Tower Research Capital LLC TRC decreased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 70.3% during the 4th quarter, Holdings Channel reports. The firm owned 600 shares of the company’s stock after selling 1,419 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Beacon Roofing Supply were worth $61,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BECN. SBI Securities Co. Ltd. bought a new stake in Beacon Roofing Supply during the 4th quarter worth about $31,000. PNC Financial Services Group Inc. boosted its stake in shares of Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after acquiring an additional 150 shares during the period. Principal Securities Inc. raised its position in shares of Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after acquiring an additional 196 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $152,000. Institutional investors own 98.45% of the company’s stock.

Insider Activity

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $122.14, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clement Munroe Best III sold 29,724 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now owns 87,943 shares in the company, valued at $10,821,386.15. The trade was a 25.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,806 shares of company stock valued at $6,745,448 in the last quarter. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on BECN shares. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Monday. They set a “sell” rating on the stock. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reaffirmed a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Finally, Robert W. Baird lifted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Beacon Roofing Supply 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. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $124.31. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31. The company’s 50 day moving average price is $122.27 and its 200-day moving average price is $113.76.

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

About Beacon Roofing Supply

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.