Quantbot Technologies LP Buys 14,788 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Quantbot Technologies LP grew its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 169.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,529 shares of the company’s stock after purchasing an additional 14,788 shares during the quarter. Quantbot Technologies LP’s holdings in Beacon Roofing Supply were worth $2,034,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now owns 69,514 shares in the company, valued at approximately $6,984,071.58. This represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now owns 9,131 shares of the company’s stock, valued at $821,790. This represents a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,874 shares of company stock worth $1,812,146. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Trading Up 0.2 %

Shares of NASDAQ BECN opened at $112.79 on Friday. The firm’s 50 day moving average price is $96.10 and its 200-day moving average price is $93.36. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $116.30. 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 $6.98 billion, a PE ratio of 19.28 and a beta of 1.54.

Analysts Set New Price Targets

Several research firms have weighed in on BECN. Stephens reaffirmed an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Royal Bank of Canada increased their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

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.