Kennedy Capital Management LLC Raises Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Kennedy Capital Management LLC raised its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,532 shares of the company’s stock after purchasing an additional 15,855 shares during the quarter. Kennedy Capital Management LLC owned 0.19% of Beacon Roofing Supply worth $11,837,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BECN. Charles Schwab Investment Management Inc. boosted its position in Beacon Roofing Supply by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock valued at $62,489,000 after buying an additional 11,426 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at $24,162,000. Barclays PLC increased its stake in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after acquiring an additional 89,222 shares during the period. Boston Partners raised its holdings in shares of Beacon Roofing Supply by 1.3% during 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 during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Beacon Roofing Supply by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock valued at $103,011,000 after purchasing an additional 20,372 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Clement Munroe Best III sold 29,724 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the completion of the sale, the insider now owns 87,943 shares in the company, valued at $10,821,386.15. This trade represents a 25.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the transaction, the insider now owns 22,642 shares in the company, valued at $2,765,493.88. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,806 shares of company stock worth $6,745,448 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN opened at $122.90 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $123.90. The firm has a market capitalization of $7.59 billion, a PE ratio of 21.01 and a beta of 1.31. The business’s 50 day moving average price is $119.61 and its 200-day moving average price is $108.84.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Loop Capital reiterated a “hold” rating and set a $124.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, March 21st. BMO Capital Markets decreased their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research note on Thursday. They set a “sell” rating on the stock. Raymond James cut shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $122.10.

Beacon Roofing Supply 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.