Swiss National Bank Has $10.74 Million Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Swiss National Bank decreased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 124,200 shares of the company’s stock after selling 600 shares during the quarter. Swiss National Bank owned 0.20% of Beacon Roofing Supply worth $10,735,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. lifted its stake in Beacon Roofing Supply by 18.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock valued at $83,239,000 after acquiring an additional 152,030 shares in the last quarter. Boston Partners lifted its position 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 worth $126,082,000 after buying an additional 569,627 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Beacon Roofing Supply in the first quarter valued at approximately $572,000. Janus Henderson Group PLC grew its holdings in shares of Beacon Roofing Supply by 34.7% in the first quarter. Janus Henderson Group PLC now owns 34,673 shares of the company’s stock valued at $3,396,000 after acquiring an additional 8,932 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Beacon Roofing Supply by 109.5% during the first quarter. Comerica Bank now owns 89,967 shares of the company’s stock valued at $8,818,000 after acquiring an additional 47,028 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. 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 note on Friday, November 1st. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Stephens reaffirmed 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. Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price target 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clement Munroe Best III sold 7,037 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the completion of the transaction, the insider now owns 69,449 shares of the company’s stock, valued at $7,162,969.86. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,874 shares of company stock valued at $1,812,146. Corporate insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Trading Up 3.3 %

NASDAQ:BECN opened at $112.18 on Monday. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $116.30. The stock’s fifty day moving average price is $94.45 and its two-hundred day moving average price is $92.94. 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 company has a market cap of $6.94 billion, a P/E ratio of 19.18 and a beta of 1.54.

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.