SG Americas Securities LLC Buys 2,650 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

SG Americas Securities LLC boosted its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 167.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,228 shares of the company’s stock after purchasing an additional 2,650 shares during the quarter. SG Americas Securities LLC’s holdings in Beacon Roofing Supply were worth $365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Central Pacific Bank Trust Division grew its holdings in Beacon Roofing Supply by 66.7% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after buying an additional 500 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Beacon Roofing Supply by 59.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,014 shares of the company’s stock valued at $182,000 after acquiring an additional 747 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Beacon Roofing Supply in the second quarter valued at $276,000. Truist Financial Corp bought a new stake in Beacon Roofing Supply in the second quarter worth $230,000. Finally, Creative Planning raised its stake in Beacon Roofing Supply by 29.9% during the second quarter. Creative Planning now owns 11,177 shares of the company’s stock valued at $1,012,000 after purchasing an additional 2,575 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $95.64 on Friday. The stock has a fifty day simple moving average of $87.54 and a 200-day simple moving average of $92.61. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. The company has a market cap of $6.08 billion, a price-to-earnings ratio of -151.81 and a beta of 1.55. Beacon Roofing Supply, Inc. has a twelve month low of $68.50 and a twelve month high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.66 EPS. Analysts anticipate that Beacon Roofing Supply, Inc. will post 7.37 EPS for the current year.

Wall Street Analyst Weigh In

BECN has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stephens dropped their target price on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Royal Bank of Canada decreased their price target on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and a consensus target price of $114.33.

Insider Activity at Beacon Roofing Supply

In other news, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total transaction of $138,295.00. Following the transaction, the executive vice president now owns 320 shares of the company’s stock, valued at approximately $27,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Beacon Roofing Supply news, CFO Prithvi Gandhi acquired 5,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of $82.29 per share, with a total value of $411,450.00. Following the completion of the purchase, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $411,450. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $85.00, for a total value of $138,295.00. Following the sale, the executive vice president now directly owns 320 shares in the company, valued at $27,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

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.