Fisher Asset Management LLC Purchases 2,607 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Fisher Asset Management LLC boosted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 993,715 shares of the company’s stock after purchasing an additional 2,607 shares during the period. Fisher Asset Management LLC’s holdings in Beacon Roofing Supply were worth $85,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. grew 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 worth $28,000 after buying an additional 211 shares during the last quarter. GAMMA Investing LLC lifted its stake in Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after acquiring an additional 445 shares during the period. Central Pacific Bank Trust Division boosted its holdings in Beacon Roofing Supply by 66.7% in the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after acquiring an additional 500 shares in the last quarter. Plato Investment Management Ltd increased 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 valued at $109,000 after purchasing an additional 648 shares during the period. Finally, Huntington National Bank raised its holdings in Beacon Roofing Supply by 14.1% in the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN opened at $113.77 on Tuesday. The company has a market capitalization of $7.04 billion, a PE ratio of 19.45 and a beta of 1.54. The business has a fifty day moving average price of $94.45 and a 200-day moving average price of $92.94. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $116.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Analysts Set New Price Targets

BECN has been the topic of a number of research reports. Robert W. Baird lifted their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Stephens reissued an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Finally, Royal Bank of Canada upped their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Insiders Place Their Bets

In other news, insider Clement Munroe Best III sold 5,637 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 69,514 shares in the company, valued at $6,984,071.58. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction 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 sale, the insider now directly owns 9,131 shares in the company, valued at $821,790. This trade represents a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,874 shares of company stock valued at $1,812,146. 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.