3,100 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Purchased by MML Investors Services LLC

MML Investors Services LLC bought a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,100 shares of the company’s stock, valued at approximately $268,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after purchasing an additional 963,633 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Beacon Roofing Supply by 1,449.0% in the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock valued at $53,205,000 after buying an additional 575,852 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Beacon Roofing Supply by 1,192.1% during the third quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock valued at $44,398,000 after acquiring an additional 473,937 shares during the period. Driehaus Capital Management LLC bought a new position in shares of Beacon Roofing Supply during the second quarter worth about $39,606,000. Finally, 140 Summer Partners LP acquired a new stake in shares of Beacon Roofing Supply in the 3rd quarter worth about $29,343,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares in the company, valued at $6,984,071.58. The trade was a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the sale, the insider now directly owns 6,531 shares of the company’s stock, valued at approximately $718,410. This represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,874 shares of company stock valued at $1,812,146 in the last quarter. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock opened at $101.30 on Thursday. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $116.30. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a market cap of $6.27 billion, a PE ratio of 17.32 and a beta of 1.59. The company’s 50-day moving average price is $103.30 and its two-hundred day moving average price is $94.86.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BECN shares. JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Robert W. Baird raised their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Stephens reiterated an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada raised their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.88.

Beacon Roofing Supply Company 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.