Harvey Investment Co. LLC Makes New $203,000 Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Harvey Investment Co. LLC acquired a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the fourth quarter, Holdings Channel.com reports. The fund acquired 2,000 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in shares of Beacon Roofing Supply in the third quarter worth $1,441,000. Barclays PLC boosted its holdings in Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after purchasing an additional 89,222 shares during the period. JPMorgan Chase & Co. grew its stake in Beacon Roofing Supply by 16.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company’s stock worth $30,849,000 after purchasing an additional 49,902 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Beacon Roofing Supply by 23.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company’s stock worth $3,668,000 after purchasing an additional 7,924 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Beacon Roofing Supply in the 3rd quarter valued at about $4,331,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the sale, the insider now owns 6,531 shares in the company, valued at $718,410. This represents a 28.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Beacon Roofing Supply Stock Up 1.3 %

Beacon Roofing Supply stock opened at $120.50 on Friday. The company has a market capitalization of $7.46 billion, a P/E ratio of 20.60 and a beta of 1.62. 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, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $121.42. The stock has a 50-day simple moving average of $109.34 and a 200-day simple moving average of $98.37.

Wall Street Analyst Weigh In

BECN has been the subject of a number of analyst reports. StockNews.com initiated coverage on Beacon Roofing Supply in a research report on Wednesday. They set a “sell” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Robert W. Baird lifted their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply has an average rating of “Hold” and an average target price of $120.17.

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.