US Bancorp DE Grows Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

US Bancorp DE boosted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,255 shares of the company’s stock after purchasing an additional 116 shares during the period. US Bancorp DE’s holdings in Beacon Roofing Supply were worth $454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BECN. Vanguard Group Inc. increased its holdings in shares of Beacon Roofing Supply by 14.1% in the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after purchasing an additional 872,216 shares during the last quarter. Boston Partners increased its stake in Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Beacon Roofing Supply during the second quarter valued at approximately $39,606,000. Jupiter Asset Management Ltd. boosted its position in shares of Beacon Roofing Supply by 1,293.8% during the first quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock valued at $39,150,000 after buying an additional 370,756 shares during the period. Finally, Zimmer Partners LP purchased a new position in shares of Beacon Roofing Supply during the first quarter valued at approximately $35,777,000. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Trading Up 1.9 %

Beacon Roofing Supply stock opened at $105.21 on Tuesday. Beacon Roofing Supply, Inc. has a 12 month low of $74.79 and a 12 month high of $105.84. The firm has a market cap of $6.51 billion, a PE ratio of 17.98 and a beta of 1.54. 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’s 50 day simple moving average is $90.18 and its two-hundred day simple moving average is $92.34.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BECN. Stephens lowered their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Benchmark restated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective 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. Finally, Robert W. Baird upped their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.22.

Insider Activity

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now owns 9,131 shares in the company, valued at approximately $821,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Clement Munroe Best III sold 7,037 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the firm’s 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 sale, the insider now directly owns 9,131 shares of the company’s stock, valued at $821,790. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,274 shares of company stock worth $1,526,146 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

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.