UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,473 shares of the company’s stock after buying an additional 647 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Beacon Roofing Supply were worth $11,709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. US Bancorp DE lifted its holdings in shares of Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after acquiring an additional 116 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Beacon Roofing Supply by 2.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock worth $501,000 after acquiring an additional 147 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Beacon Roofing Supply by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock worth $803,000 after acquiring an additional 156 shares during the last quarter. Equitable Trust Co. lifted its holdings in shares of Beacon Roofing Supply by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock worth $614,000 after acquiring an additional 156 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Beacon Roofing Supply by 14.1% in the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after acquiring an additional 206 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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 $718,410. This trade represents a 28.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Friday, November 8th. The shares were sold at an average price of $103.14, for a total value of $725,796.18. Following the sale, the insider now directly owns 69,449 shares in the company, valued at approximately $7,162,969.86. The trade was a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,874 shares of company stock worth $1,812,146 over the last three months. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on BECN. Royal Bank of Canada raised their target price 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. 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 restated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Finally, 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Beacon Roofing Supply Stock Performance

BECN stock opened at $111.57 on Friday. 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 has a 50-day moving average price of $99.83 and a 200 day moving average price of $94.15. The company has a market capitalization of $6.91 billion, a P/E ratio of 19.07 and a beta of 1.59. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $116.30.

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.