Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Acquired by Huntington National Bank

Huntington National Bank raised its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 14.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,668 shares of the company’s stock after purchasing an additional 206 shares during the period. Huntington National Bank’s holdings in Beacon Roofing Supply were worth $144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Beacon Roofing Supply in the first quarter valued at about $26,000. Blue Trust Inc. grew its stake in Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. GAMMA Investing LLC raised its holdings in Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after acquiring an additional 445 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in 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, Plato Investment Management Ltd boosted its holdings 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 worth $109,000 after purchasing an additional 648 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird upped their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Stephens dropped their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Finally, Royal Bank of Canada raised their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.22.

Insider Buying and Selling at Beacon Roofing Supply

In related 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 transaction, the insider now owns 69,449 shares in the company, valued at approximately $7,162,969.86. The trade was a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the sale, the insider now directly owns 9,131 shares in the company, valued at approximately $821,790. The trade was a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,274 shares of company stock valued at $1,526,146 over the last quarter. 1.30% of the stock is owned by company insiders.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $98.75 on Monday. 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 company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 16.88 and a beta of 1.54. The company’s 50 day simple moving average is $91.58 and its 200-day simple moving average is $92.43. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $105.84.

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.