Fisher Asset Management LLC Increases Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Fisher Asset Management LLC increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 993,715 shares of the company’s stock after acquiring an additional 2,607 shares during the quarter. Fisher Asset Management LLC owned approximately 1.61% of Beacon Roofing Supply worth $85,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BECN. Blue Trust Inc. raised its stake in shares of Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the period. GAMMA Investing LLC raised 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 purchasing an additional 445 shares during the period. Plato Investment Management Ltd lifted its position in shares of Beacon Roofing Supply by 140.3% during the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after buying an additional 648 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after purchasing an additional 500 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of Beacon Roofing Supply by 14.1% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Trading Up 1.4 %

Shares of BECN stock opened at $113.77 on Tuesday. The business has a 50-day moving average price of $94.45 and a two-hundred day moving average price of $92.94. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $116.30. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm has a market cap of $7.04 billion, a P/E ratio of 19.45 and a beta of 1.54.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 69,514 shares in the company, valued at $6,984,071.58. This represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the transaction, the insider now owns 6,531 shares in the company, valued at approximately $718,410. This represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,874 shares of company stock valued at $1,812,146. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on BECN. Royal Bank of Canada increased their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird increased their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Stephens restated an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. 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 company has an average rating of “Moderate Buy” and an average target price of $118.00.

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.