Bridgewater Associates LP Has $1.18 Million Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Bridgewater Associates LP cut its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 93.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,649 shares of the company’s stock after selling 208,129 shares during the quarter. Bridgewater Associates LP’s holdings in Beacon Roofing Supply were worth $1,180,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in Beacon Roofing Supply by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,159 shares of the company’s stock valued at $3,741,000 after purchasing an additional 3,625 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Beacon Roofing Supply by 34.7% during the 1st quarter. Janus Henderson Group PLC now owns 34,673 shares of the company’s stock valued at $3,396,000 after purchasing an additional 8,932 shares during the last quarter. California State Teachers Retirement System boosted its stake in Beacon Roofing Supply by 6.2% during the 1st quarter. California State Teachers Retirement System now owns 60,896 shares of the company’s stock valued at $5,969,000 after purchasing an additional 3,574 shares during the last quarter. Raymond James & Associates boosted its stake in Beacon Roofing Supply by 471.8% during the 2nd quarter. Raymond James & Associates now owns 42,029 shares of the company’s stock valued at $3,804,000 after purchasing an additional 34,679 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Beacon Roofing Supply by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 811,047 shares of the company’s stock valued at $73,400,000 after purchasing an additional 49,040 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Stock Up 0.2 %

BECN opened at $113.02 on Monday. The stock has a market cap of $6.99 billion, a PE ratio of 19.32 and a beta of 1.54. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $116.30. The business’s fifty day simple moving average is $97.15 and its 200 day simple moving average is $93.57.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 69,449 shares in the company, valued at $7,162,969.86. This represents a 9.20 % 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 the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the sale, the insider now owns 6,531 shares of the company’s stock, valued at approximately $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,874 shares of company stock valued at $1,812,146 over the last 90 days. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. JPMorgan Chase & Co. upped 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. Stephens reaffirmed an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply 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.