State of New Jersey Common Pension Fund D Sells 8,201 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

State of New Jersey Common Pension Fund D lessened its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 24.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,923 shares of the company’s stock after selling 8,201 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Beacon Roofing Supply were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Beacon Roofing Supply during the 1st quarter valued at about $26,000. PNC Financial Services Group Inc. raised its holdings in Beacon Roofing Supply by 145.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after acquiring an additional 203 shares during the last quarter. Quarry LP lifted its position in Beacon Roofing Supply by 127.1% in the 4th quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after acquiring an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Beacon Roofing Supply by 28.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after purchasing an additional 116 shares during the last quarter. Finally, Plato Investment Management Ltd increased its holdings in shares of Beacon Roofing Supply by 140.3% in the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after purchasing an additional 648 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

BECN has been the topic of several recent analyst reports. Robert W. Baird dropped their price objective on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada reduced their price target on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Stephens lowered their price objective 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.30.

Insider Buying and Selling at Beacon Roofing Supply

In other news, EVP Christopher Carl Nelson sold 2,955 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $91.11, for a total value of $269,230.05. Following the completion of the sale, the executive vice president now directly owns 320 shares of the company’s stock, valued at $29,155.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Beacon Roofing Supply news, CFO Prithvi Gandhi purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 2,955 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $91.11, for a total transaction of $269,230.05. Following the sale, the executive vice president now directly owns 320 shares of the company’s stock, valued at $29,155.20. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock opened at $87.46 on Friday. The stock has a market cap of $5.56 billion, a P/E ratio of -138.83 and a beta of 1.55. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90. The stock’s fifty day moving average is $89.46 and its 200 day moving average is $92.75. Beacon Roofing Supply, Inc. has a one year low of $68.50 and a one year high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.47). The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $2.66 EPS. Sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.39 earnings per share for the current year.

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.