Fiera Capital Corp Takes $1.72 Million Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Fiera Capital Corp bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 19,931 shares of the company’s stock, valued at approximately $1,723,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BECN. Vanguard Group Inc. boosted its stake in shares of Beacon Roofing Supply by 14.1% during the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after buying an additional 872,216 shares during the last quarter. Boston Partners boosted its stake in shares of Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after buying 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 2nd quarter valued at approximately $39,606,000. Jupiter Asset Management Ltd. boosted its stake in shares of Beacon Roofing Supply by 1,293.8% during the 1st 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 last quarter. Finally, Zimmer Partners LP purchased a new position in shares of Beacon Roofing Supply during the 1st quarter valued at approximately $35,777,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $234,000.00. Following the transaction, the insider now directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Clement Munroe Best III sold 7,037 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the firm’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 transaction, the insider now directly owns 9,131 shares in the company, valued at $821,790. This trade represents 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 valued at $1,526,146 over the last three months. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

BECN has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird raised their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Stephens reduced their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday. 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, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and an average price target of $115.22.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $103.25 on Friday. Beacon Roofing Supply, Inc. has a 1-year low of $72.56 and a 1-year high of $105.42. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The business’s fifty day moving average price is $89.89 and its two-hundred day moving average price is $92.32. The firm has a market capitalization of $6.39 billion, a PE ratio of 17.65 and a beta of 1.54.

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.