Alliancebernstein L.P. Sells 5,390 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Alliancebernstein L.P. decreased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,517 shares of the company’s stock after selling 5,390 shares during the period. Alliancebernstein L.P.’s holdings in Beacon Roofing Supply were worth $7,265,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BECN. HighTower Advisors LLC raised its stake in Beacon Roofing Supply by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after acquiring an additional 181 shares during the period. Quarry LP raised its position in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. State Street Corp lifted its stake in shares of Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after buying an additional 15,505 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth about $266,000. Finally, MML Investors Services LLC acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at about $268,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BECN has been the subject of several research reports. Raymond James downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. Robert W. Baird lifted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Finally, StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research report on Thursday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus target price of $122.10.

Beacon Roofing Supply Stock Up 0.2 %

BECN stock opened at $123.15 on Friday. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $123.90. The business has a 50-day simple moving average of $119.61 and a 200 day simple moving average of $108.84. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a market cap of $7.61 billion, a PE ratio of 21.05 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 16,595 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the sale, the executive vice president now directly owns 463 shares of the company’s stock, valued at $57,231.43. This trade represents a 97.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the transaction, the insider now directly owns 22,642 shares of the company’s stock, valued at approximately $2,765,493.88. The trade was a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock worth $6,745,448 over the last three months. Corporate insiders own 1.30% of the company’s stock.

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.