Intech Investment Management LLC Makes New $1.44 Million Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Intech Investment Management LLC bought a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,669 shares of the company’s stock, valued at approximately $1,441,000.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. increased 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 increased 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. Central Pacific Bank Trust Division increased its position in 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 worth $108,000 after buying an additional 500 shares during the last quarter. Plato Investment Management Ltd increased its position in Beacon Roofing Supply by 140.3% in the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after buying an additional 648 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Beacon Roofing Supply by 14.1% in the third 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 period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BECN shares. 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 raised their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada raised their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $113.77 on Tuesday. The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 19.48 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $116.30. The stock has a fifty day moving average of $94.45 and a 200 day moving average of $92.94. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Insiders Place Their Bets

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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the sale, the insider now directly owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,874 shares of company stock valued at $1,812,146 over the last 90 days. Insiders own 1.30% of the company’s stock.

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.