Gamco Investors INC. ET AL Reduces Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Gamco Investors INC. ET AL decreased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,594 shares of the company’s stock after selling 329 shares during the period. Gamco Investors INC. ET AL’s holdings in Beacon Roofing Supply were worth $1,686,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BECN. Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 11,426 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at about $24,162,000. Barclays PLC increased its position in shares of Beacon Roofing Supply by 272.0% during the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after buying an additional 89,222 shares during the period. Boston Partners raised its stake in Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock worth $462,417,000 after buying an additional 59,630 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Beacon Roofing Supply by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock worth $103,011,000 after buying an additional 20,372 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Trading Up 0.6 %

Shares of NASDAQ BECN opened at $123.85 on Friday. The firm’s 50 day moving average price is $120.02 and its 200-day moving average price is $109.95. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $123.90. 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 cap of $7.65 billion, a PE ratio of 21.17 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of the firm’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. This trade represents a 27.26 % 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 Clement Munroe Best III sold 29,724 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BECN shares. StockNews.com assumed coverage on Beacon Roofing Supply in a report on Friday. They set a “sell” rating on the stock. Benchmark reaffirmed a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Robert W. Baird raised their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Royal Bank of Canada cut shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $124.00 to $124.35 in a report on Wednesday, April 2nd. Finally, Baird R W lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.47.

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.