Iridian Asset Management LLC CT Has $6.06 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Iridian Asset Management LLC CT reduced its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 28.7% in the 4th quarter, HoldingsChannel reports. The firm owned 59,658 shares of the company’s stock after selling 24,055 shares during the quarter. Beacon Roofing Supply makes up 1.6% of Iridian Asset Management LLC CT’s portfolio, making the stock its 20th biggest position. Iridian Asset Management LLC CT’s holdings in Beacon Roofing Supply were worth $6,060,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BECN. Blue Trust Inc. increased its position in Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 211 shares in the last quarter. Quarry LP grew its stake in 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 acquiring an additional 197 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply during the third quarter valued at approximately $28,000. GAMMA Investing LLC lifted its position in shares of Beacon Roofing Supply by 154.0% during the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after purchasing an additional 445 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in Beacon Roofing Supply by 14.1% during the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 1.3 %

BECN opened at $120.50 on Friday. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $121.42. The company has a market cap of $7.46 billion, a PE ratio of 20.60 and a beta of 1.62. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average of $109.34 and a 200 day moving average of $98.37.

Analyst Ratings Changes

A number of analysts recently commented on BECN shares. Stephens reaffirmed an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their target price for the stock from $131.00 to $122.55 in a research note on Friday. Benchmark reissued a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Finally, Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $120.17.

Insiders Place Their Bets

In related news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $110.00, for a total transaction of $286,000.00. Following the sale, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. The trade was a 28.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

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.