2,070 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,070 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in shares of Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after purchasing an additional 116 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Beacon Roofing Supply by 2.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock valued at $501,000 after buying an additional 147 shares in the last quarter. Equitable Trust Co. grew its position in Beacon Roofing Supply by 2.2% in the third quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock valued at $614,000 after acquiring an additional 156 shares during the last quarter. HighTower Advisors LLC grew its position in Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after acquiring an additional 181 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Insider Activity

In other news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply 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 completion of the sale, the insider now owns 6,531 shares in the company, valued at $718,410. The trade was a 28.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the transaction, the insider now directly owns 69,449 shares in the company, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,274 shares of company stock valued at $1,578,146. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BECN has been the topic of several research reports. Royal Bank of Canada lifted their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $115.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.56.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $103.68 on Thursday. The stock has a market capitalization of $6.42 billion, a PE ratio of 17.72 and a beta of 1.61. The business’s 50 day simple moving average is $104.73 and its 200 day simple moving average is $95.15. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $116.30.

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.