Fiduciary Management Inc. WI Has $129.88 Million Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Fiduciary Management Inc. WI cut its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,278,557 shares of the company’s stock after selling 6,542 shares during the quarter. Fiduciary Management Inc. WI owned approximately 2.07% of Beacon Roofing Supply worth $129,876,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply in the 4th quarter valued at about $31,000. PNC Financial Services Group Inc. increased its holdings in shares of Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Beacon Roofing Supply by 26.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after purchasing an additional 150 shares in the last quarter. Principal Securities Inc. raised its position in Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after purchasing an additional 196 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Beacon Roofing Supply during the 4th quarter worth $152,000. 98.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Clement Munroe Best III sold 29,724 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $123.05, for a total value of $3,657,538.20. Following the completion of the transaction, the insider now owns 87,943 shares of the company’s stock, valued at approximately $10,821,386.15. This trade represents a 25.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the sale, the insider now directly owns 22,642 shares in the company, valued at $2,765,493.88. This trade represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,806 shares of company stock valued at $6,745,448. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BECN shares. Benchmark restated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their target price for the company from $131.00 to $122.55 in a research note on Friday, February 7th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Friday. They set a “sell” rating for the company. Finally, Baird R W cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $121.47.

Beacon Roofing Supply Stock Up 0.6 %

NASDAQ:BECN opened at $123.85 on Friday. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $123.90. The stock has a 50-day moving average price of $120.02 and a two-hundred day moving average price of $109.95. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 21.17 and a beta of 1.31. 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 (NASDAQ:BECN) last posted its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. As a group, equities analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

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.