Los Angeles Capital Management LLC Sells 3,616 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Los Angeles Capital Management LLC decreased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,671 shares of the company’s stock after selling 3,616 shares during the period. Los Angeles Capital Management LLC’s holdings in Beacon Roofing Supply were worth $2,392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BECN. Allspring Global Investments Holdings LLC purchased a new stake in Beacon Roofing Supply during the first quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 211 shares during the last quarter. GAMMA Investing LLC lifted its position in Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after buying an additional 445 shares during the last quarter. Plato Investment Management Ltd increased its position in Beacon Roofing Supply by 140.3% during the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after acquiring an additional 648 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in shares of Beacon Roofing Supply by 66.7% in the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity

In other news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were 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 in the company, valued at approximately $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Clement Munroe Best III sold 5,637 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction dated 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 in the company, valued at $821,790. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,274 shares of company stock worth $1,526,146. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on BECN shares. Robert W. Baird lifted their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Stephens reduced their target price 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. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.22.

Beacon Roofing Supply Stock Performance

BECN stock opened at $103.85 on Wednesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 1-year low of $74.79 and a 1-year high of $105.84. The business has a 50-day moving average price of $90.53 and a 200 day moving average price of $92.37. The company has a market capitalization of $6.43 billion, a P/E ratio of 17.75 and a beta of 1.54.

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.