Los Angeles Capital Management LLC Decreases Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Los Angeles Capital Management LLC lowered its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,671 shares of the company’s stock after selling 3,616 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Beacon Roofing Supply were worth $2,392,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its stake 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 worth $454,000 after buying an additional 116 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings 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 acquiring an additional 147 shares during the period. SummerHaven Investment Management LLC boosted its position in Beacon Roofing Supply by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock worth $803,000 after purchasing an additional 156 shares during the last quarter. Equitable Trust Co. grew its stake in shares of Beacon Roofing Supply by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock valued at $614,000 after purchasing an additional 156 shares during the period. Finally, QRG Capital Management Inc. increased its position in shares of Beacon Roofing Supply by 1.5% during the 1st quarter. QRG Capital Management Inc. now owns 10,475 shares of the company’s stock valued at $1,027,000 after purchasing an additional 157 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Down 1.3 %

NASDAQ BECN opened at $103.85 on Wednesday. Beacon Roofing Supply, Inc. has a 12 month low of $74.79 and a 12 month high of $105.84. 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 $6.43 billion, a PE ratio of 17.75 and a beta of 1.54. The stock’s 50 day moving average is $90.53 and its 200 day moving average is $92.37.

Wall Street Analysts Forecast Growth

BECN has been the subject of several recent research reports. Robert W. Baird boosted 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 issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Stephens reduced their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Finally, Royal Bank of Canada raised their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Moderate Buy” and a consensus price target of $115.22.

Insider Transactions at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 7,037 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the completion of the transaction, the insider now directly owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the completion of the transaction, the insider now owns 69,449 shares of the company’s stock, valued at $7,162,969.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction dated Monday, October 7th. The stock was 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 in the company, valued at $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,274 shares of company stock valued at $1,526,146. 1.30% of the stock is currently owned by corporate insiders.

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.