Integrated Wealth Concepts LLC Sells 472 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Integrated Wealth Concepts LLC lowered its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,539 shares of the company’s stock after selling 472 shares during the period. Integrated Wealth Concepts LLC’s holdings in Beacon Roofing Supply were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BECN. FMR LLC lifted its position in shares of Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after acquiring an additional 963,633 shares in the last quarter. Janus Henderson Group PLC raised its stake in Beacon Roofing Supply by 1,449.0% during the 3rd quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock valued at $53,205,000 after purchasing an additional 575,852 shares during the period. Citigroup Inc. lifted its holdings in Beacon Roofing Supply by 1,192.1% in the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock worth $44,398,000 after purchasing an additional 473,937 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Beacon Roofing Supply in the 2nd quarter worth approximately $39,606,000. Finally, 140 Summer Partners LP purchased a new stake in Beacon Roofing Supply during the 3rd quarter valued at approximately $29,343,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN opened at $107.95 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $116.30. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 18.45 and a beta of 1.59. The firm’s 50-day moving average is $101.68 and its 200 day moving average is $94.53.

Analyst Upgrades and Downgrades

BECN has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Stephens reiterated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Royal Bank of Canada raised 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. Robert W. Baird boosted their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Insider Transactions at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the transaction, the insider now directly owns 6,531 shares of the company’s stock, valued at approximately $718,410. This trade represents a 28.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Clement Munroe Best III sold 5,637 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the sale, the insider now owns 69,514 shares of the company’s stock, valued at $6,984,071.58. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,874 shares of company stock worth $1,812,146. 1.30% of the stock is currently owned by company insiders.

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.