Algert Global LLC Sells 11,153 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Algert Global LLC trimmed its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,357 shares of the company’s stock after selling 11,153 shares during the period. Algert Global LLC owned about 0.20% of Beacon Roofing Supply worth $10,748,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of 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 boosted its stake in shares of Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after acquiring an additional 445 shares during the last quarter. Plato Investment Management Ltd grew its position in shares of Beacon Roofing Supply by 140.3% during the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after acquiring an additional 648 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of Beacon Roofing Supply by 66.7% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after purchasing an additional 500 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Beacon Roofing Supply by 177.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,535 shares of the company’s stock worth $154,000 after purchasing an additional 982 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Performance

BECN opened at $112.18 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 19.18 and a beta of 1.54. The company has a fifty day moving average of $93.87 and a 200 day moving average of $92.83. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $116.30.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BECN. Stephens reissued an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday. Robert W. Baird raised their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Finally, Royal Bank of Canada increased their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.00.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 5,637 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total transaction of $566,349.39. Following the sale, the insider now directly owns 69,514 shares of the company’s stock, valued at $6,984,071.58. This represents a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the transaction, the insider now directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. This trade represents a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,874 shares of company stock valued at $1,812,146 in the last 90 days. Insiders own 1.30% of the company’s stock.

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.