Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 86.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 910 shares of the company’s stock after purchasing an additional 423 shares during the period. Parkside Financial Bank & Trust’s holdings in Beacon Roofing Supply were worth $79,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BECN. Vanguard Group Inc. raised its position in Beacon Roofing Supply by 19.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock worth $434,118,000 after buying an additional 909,819 shares during the last quarter. Acadian Asset Management LLC raised its position in Beacon Roofing Supply by 4,518.3% during the 3rd quarter. Acadian Asset Management LLC now owns 356,902 shares of the company’s stock worth $27,527,000 after buying an additional 349,174 shares during the last quarter. American Century Companies Inc. raised its position in Beacon Roofing Supply by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock worth $211,017,000 after buying an additional 233,393 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Beacon Roofing Supply during the 3rd quarter worth $6,442,000. Finally, Boston Partners raised its position in Beacon Roofing Supply by 19.4% during the 3rd quarter. Boston Partners now owns 435,029 shares of the company’s stock worth $33,250,000 after buying an additional 70,554 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BECN. Loop Capital increased their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, April 1st. William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. BMO Capital Markets increased their price target on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

Beacon Roofing Supply Stock Up 0.4 %

Beacon Roofing Supply stock opened at $97.56 on Friday. Beacon Roofing Supply, Inc. has a 12-month low of $56.94 and a 12-month high of $102.83. The firm’s 50-day moving average is $92.11 and its two-hundred day moving average is $84.91. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the business earned $1.18 earnings per share. Beacon Roofing Supply’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities analysts anticipate that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current fiscal year.

Insiders Place Their Bets

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

About Beacon Roofing Supply

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.