Atria Investments Inc Sells 512 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Atria Investments Inc cut its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,094 shares of the company’s stock after selling 512 shares during the period. Atria Investments Inc’s holdings in Beacon Roofing Supply were worth $440,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BECN. Allspring Global Investments Holdings LLC acquired a new stake in Beacon Roofing Supply during the first quarter worth about $26,000. Blue Trust Inc. boosted its holdings in Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after acquiring an additional 445 shares in the last quarter. Plato Investment Management Ltd boosted 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 acquiring an additional 648 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Beacon Roofing Supply by 66.7% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after acquiring an additional 500 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BECN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday. Benchmark reissued a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Robert W. Baird boosted their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Stephens reissued an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday. Finally, Royal Bank of Canada boosted their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.00.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock opened at $108.94 on Thursday. The firm has a fifty day moving average of $93.31 and a two-hundred day moving average of $92.71. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 18.62 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $116.30. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the transaction, the insider now owns 9,131 shares of the company’s stock, valued at $821,790. The trade was a 22.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the completion of the transaction, the insider now directly owns 69,514 shares of the company’s stock, valued at $6,984,071.58. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,874 shares of company stock worth $1,812,146. 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.