New York State Teachers Retirement System Has $452,000 Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

New York State Teachers Retirement System raised its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 46.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,190 shares of the company’s stock after buying an additional 1,638 shares during the quarter. New York State Teachers Retirement System’s holdings in Beacon Roofing Supply were worth $452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust acquired a new position in Beacon Roofing Supply in the 2nd quarter valued at $27,000. Exchange Traded Concepts LLC grew its holdings in Beacon Roofing Supply by 63.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after buying an additional 325 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after buying an additional 300 shares in the last quarter. Headlands Technologies LLC acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at $98,000. Finally, CI Investments Inc. acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth $157,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the sale, the insider now owns 10,531 shares of the company’s stock, valued at $1,000,445. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the sale, the insider now owns 10,531 shares of the company’s stock, valued at $1,000,445. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the sale, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Loop Capital increased their target price on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Benchmark assumed coverage on Beacon Roofing Supply in a report on Thursday. They set a “buy” rating and a $135.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. Finally, StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $93.42 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $5.93 billion, a PE ratio of -198.77 and a beta of 1.63. Beacon Roofing Supply, Inc. has a 12 month low of $56.94 and a 12 month high of $102.83. The stock has a 50-day moving average price of $91.33 and a two-hundred day moving average price of $84.27.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. Beacon Roofing Supply’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 earnings per share. Analysts expect that Beacon Roofing Supply, Inc. will post 7.85 EPS for the current year.

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.