339,500 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Acquired by 140 Summer Partners LP

140 Summer Partners LP acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 339,500 shares of the company’s stock, valued at approximately $29,343,000. Beacon Roofing Supply accounts for 3.2% of 140 Summer Partners LP’s portfolio, making the stock its 14th largest holding. 140 Summer Partners LP owned approximately 0.55% of Beacon Roofing Supply at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BECN. FMR LLC boosted its stake in shares of Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after buying an additional 963,633 shares during the last quarter. Boston Partners grew its stake in shares of Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after purchasing an additional 569,627 shares during the period. Citigroup Inc. increased its holdings in shares of Beacon Roofing Supply by 1,192.1% during the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock valued at $44,398,000 after purchasing an additional 473,937 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at $39,606,000. Finally, Point72 Asset Management L.P. purchased a new stake in Beacon Roofing Supply during the second quarter worth $27,566,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on BECN shares. Benchmark reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Stephens reaffirmed an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Royal Bank of Canada increased their price target 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. JPMorgan Chase & Co. upped their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Finally, Robert W. Baird boosted their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Moderate Buy” and a consensus price target of $118.00.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the transaction, the insider now owns 6,531 shares of the company’s stock, valued at $718,410. This represents a 28.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the transaction, the insider now owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,874 shares of company stock worth $1,812,146 in the last ninety days. 1.30% of the stock is owned by insiders.

Beacon Roofing Supply Trading Up 0.2 %

Shares of BECN opened at $112.79 on Thursday. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $116.30. The firm has a market capitalization of $6.98 billion, a P/E ratio of 19.28 and a beta of 1.54. The firm has a 50-day moving average price of $95.55 and a 200 day moving average price of $93.22. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

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.