Blue Trust Inc. Has $28,000 Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Blue Trust Inc. increased its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 222.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 306 shares of the company’s stock after buying an additional 211 shares during the period. Blue Trust Inc.’s holdings in Beacon Roofing Supply were worth $28,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Beacon Roofing Supply during the 1st quarter worth about $26,000. PNC Financial Services Group Inc. lifted its position in Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after buying an additional 203 shares in the last quarter. GAMMA Investing LLC lifted its position in Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after buying an additional 445 shares in the last quarter. Plato Investment Management Ltd lifted its position in Beacon Roofing Supply by 140.3% during the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after buying an additional 648 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Beacon Roofing Supply during the 1st quarter worth about $118,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity

In related news, CFO Prithvi Gandhi acquired 5,000 shares of the business’s stock in a transaction dated 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 acquisition, the chief financial officer now owns 5,000 shares in the company, valued at $411,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Prithvi Gandhi acquired 5,000 shares of the business’s stock in a transaction dated 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 acquisition, the chief financial officer now owns 5,000 shares in the company, valued at $411,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were 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 directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BECN shares. Royal Bank of Canada upped their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird upped their target price 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. Benchmark restated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday. Finally, Stephens cut their target price on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and an average price target of $115.00.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $93.34 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. The stock has a market cap of $5.78 billion, a PE ratio of 15.96 and a beta of 1.55. The stock has a 50-day moving average of $88.96 and a 200-day moving average of $92.20. Beacon Roofing Supply, Inc. has a one year low of $71.48 and a one year high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.08). Beacon Roofing Supply had a return on equity of 25.64% and a net margin of 3.86%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. As a group, sell-side analysts expect that Beacon Roofing Supply, Inc. will post 7.37 earnings per share 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.