Skylands Capital LLC Sells 19,317 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Skylands Capital LLC lessened its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 8.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 218,200 shares of the company’s stock after selling 19,317 shares during the quarter. Beacon Roofing Supply accounts for approximately 3.1% of Skylands Capital LLC’s investment portfolio, making the stock its 7th biggest position. Skylands Capital LLC owned about 0.35% of Beacon Roofing Supply worth $22,165,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quarry LP lifted its stake in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Beacon Roofing Supply by 222.1% in 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 during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at $28,000. Principal Securities Inc. lifted its stake in shares of Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after acquiring an additional 196 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of Beacon Roofing Supply by 14.1% in the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after acquiring an additional 206 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

BECN stock opened at $116.62 on Monday. The stock has a 50-day moving average price of $111.30 and a 200-day moving average price of $100.51. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $121.42. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The firm has a market cap of $7.18 billion, a PE ratio of 19.93 and a beta of 1.62.

Analyst Ratings Changes

BECN has been the subject of several analyst reports. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. BMO Capital Markets raised their target price on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Stephens reaffirmed an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada raised their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Beacon Roofing Supply has a consensus rating of “Hold” and a consensus price target of $120.17.

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.