New York Life Investment Management LLC Has $511,000 Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

New York Life Investment Management LLC trimmed its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,869 shares of the company’s stock after selling 171 shares during the quarter. New York Life Investment Management LLC’s holdings in Beacon Roofing Supply were worth $511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BECN. Parkside Financial Bank & Trust increased its holdings in shares of Beacon Roofing Supply by 49.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after acquiring an additional 161 shares during the last quarter. Headlands Technologies LLC bought a new stake in Beacon Roofing Supply during the third quarter worth approximately $98,000. CI Investments Inc. acquired a new position in Beacon Roofing Supply during the third quarter valued at approximately $157,000. AlphaMark Advisors LLC bought a new position in shares of Beacon Roofing Supply in the third quarter valued at approximately $244,000. Finally, Pearl River Capital LLC acquired a new stake in shares of Beacon Roofing Supply in the third quarter worth $252,000. Institutional investors own 98.45% of the company’s stock.

Insider Activity at Beacon Roofing Supply

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

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN opened at $93.38 on Friday. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of -148.22 and a beta of 1.59. The firm’s 50 day simple moving average is $94.31 and its 200 day simple moving average is $86.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06. Beacon Roofing Supply, Inc. has a fifty-two week low of $57.88 and a fifty-two week high of $103.75.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.31% and a net margin of 4.47%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

BECN has been the subject of a number of research analyst reports. Benchmark assumed coverage on shares of Beacon Roofing Supply in a research report on Thursday, April 18th. They set a “buy” rating and a $135.00 target price for the company. StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday. Truist Financial boosted their target price on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. decreased their price target on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. Finally, Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

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.