Virtus Fund Advisers LLC Cuts Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Virtus Fund Advisers LLC cut its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 22.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 298 shares of the company’s stock after selling 87 shares during the period. Virtus Fund Advisers LLC’s holdings in Beacon Roofing Supply were worth $30,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BECN. Vanguard Group Inc. boosted its position in Beacon Roofing Supply by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock valued at $661,235,000 after acquiring an additional 24,027 shares in the last quarter. Boston Partners raised its holdings in Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock worth $462,417,000 after purchasing an additional 59,630 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Beacon Roofing Supply by 16.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company’s stock valued at $242,247,000 after buying an additional 329,047 shares in the last quarter. Invesco Ltd. grew its position in shares of Beacon Roofing Supply by 7.4% in the 4th quarter. Invesco Ltd. now owns 1,248,349 shares of the company’s stock worth $126,807,000 after buying an additional 86,209 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Beacon Roofing Supply by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock worth $103,011,000 after acquiring an additional 20,372 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 29,724 shares of the business’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the transaction, the insider now owns 87,943 shares of the company’s stock, valued at approximately $10,821,386.15. The trade was a 25.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the completion of the sale, the executive vice president now directly owns 463 shares of the company’s stock, valued at $57,231.43. This represents a 97.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BECN has been the subject of several analyst reports. Royal Bank of Canada lowered Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $124.00 to $124.35 in a report on Wednesday, April 2nd. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price target for the company from $131.00 to $122.55 in a research note on Friday, February 7th. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Finally, Baird R W downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $124.78.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $124.17 on Monday. 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 $124.31. The business’s 50 day moving average is $123.19 and its two-hundred day moving average is $114.82. The company has a market capitalization of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal 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.