Harvest Fund Management Co. Ltd Makes New Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 322 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at about $614,000. Fisher Asset Management LLC lifted its stake in Beacon Roofing Supply by 0.3% during the third quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock valued at $85,887,000 after purchasing an additional 2,607 shares during the last quarter. Citigroup Inc. boosted its holdings in Beacon Roofing Supply by 1,192.1% during the third quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock worth $44,398,000 after buying an additional 473,937 shares in the last quarter. Eagle Asset Management Inc. grew its position in Beacon Roofing Supply by 2.3% in the third quarter. Eagle Asset Management Inc. now owns 142,980 shares of the company’s stock worth $12,358,000 after buying an additional 3,156 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Beacon Roofing Supply by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock valued at $52,182,000 after buying an additional 5,497 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BECN. Stephens reissued an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Royal Bank of Canada lifted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the sale, the insider now directly owns 69,449 shares in the company, valued at $7,162,969.86. The trade was a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $110.00, for a total transaction of $286,000.00. Following the transaction, the insider now owns 6,531 shares in the company, valued at approximately $718,410. This trade represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,874 shares of company stock valued at $1,812,146. 1.30% of the stock is owned by insiders.

Beacon Roofing Supply Stock Up 0.2 %

Beacon Roofing Supply stock opened at $112.79 on Friday. The firm’s 50 day moving average price is $96.10 and its two-hundred day moving average price is $93.36. The firm has a market cap of $6.98 billion, a PE ratio of 19.28 and a beta of 1.54. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $116.30. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

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.