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

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

A number of other hedge funds also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Beacon Roofing Supply during the 3rd quarter valued at about $4,331,000. Thrivent Financial for Lutherans increased its holdings in Beacon Roofing Supply by 1.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 162,694 shares of the company’s stock valued at $14,061,000 after purchasing an additional 2,284 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings 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 purchasing an additional 152,030 shares during the period. Natixis Advisors LLC increased its holdings in Beacon Roofing Supply by 21.1% during the 3rd quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock valued at $18,528,000 after purchasing an additional 37,347 shares during the period. Finally, Huntington National Bank increased its holdings in Beacon Roofing Supply by 14.1% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after purchasing an additional 206 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BECN shares. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Robert W. Baird lifted their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Stephens reaffirmed an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada lifted 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and an average price target of $118.00.

Insider Transactions at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value 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 represents a 28.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of the company’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 transaction, the insider now directly owns 69,514 shares in the company, valued at $6,984,071.58. This trade represents a 7.50 % 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 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $113.77 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The business’s 50 day moving average price is $94.45 and its 200-day moving average price is $92.94. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $116.30. The stock has a market cap of $7.04 billion, a P/E ratio of 19.48 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.