Fiera Capital Corp Purchases New Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Fiera Capital Corp purchased a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 19,931 shares of the company’s stock, valued at approximately $1,723,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Beacon Roofing Supply in the 1st quarter valued at $26,000. Blue Trust Inc. boosted its position in shares of 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 purchasing an additional 211 shares during the period. GAMMA Investing LLC boosted its position in shares of Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after purchasing an additional 445 shares during the period. Plato Investment Management Ltd boosted its position in Beacon Roofing Supply by 140.3% during the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after acquiring an additional 648 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in Beacon Roofing Supply during the 1st quarter worth about $118,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 1.0 %

Shares of BECN stock opened at $103.25 on Friday. The stock’s 50 day simple moving average is $89.89 and its 200 day simple moving average is $92.32. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a twelve month low of $72.56 and a twelve month high of $105.42. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 17.65 and a beta of 1.54.

Analysts Set New Price Targets

A number of equities research analysts have commented on BECN shares. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Royal Bank of Canada raised their price objective 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. Stephens decreased their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Robert W. Baird raised their price target 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 assigned a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and a consensus target price of $115.22.

Insider Activity at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 5,637 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Clement Munroe Best III sold 5,637 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the transaction, the insider now directly owns 9,131 shares in the company, valued at $821,790. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,274 shares of company stock valued at $1,526,146. Corporate 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.