Shell Asset Management Co. Sells 1,582 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Posted by Defense World Staff on Feb 26th, 2023

Shell Asset Management Co. lessened its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 20.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,024 shares of the company’s stock after selling 1,582 shares during the quarter. Shell Asset Management Co.’s holdings in Beacon Roofing Supply were worth $330,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Clayton Dubilier & Rice LLC raised its stake in shares of Beacon Roofing Supply by 0.7% during the 3rd quarter. Clayton Dubilier & Rice LLC now owns 14,878,067 shares of the company’s stock worth $814,128,000 after acquiring an additional 103,931 shares in the last quarter. FMR LLC raised its stake in shares of Beacon Roofing Supply by 1.6% during the 2nd quarter. FMR LLC now owns 10,311,211 shares of the company’s stock worth $529,583,000 after acquiring an additional 160,181 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Beacon Roofing Supply by 4.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock worth $144,131,000 after acquiring an additional 106,890 shares in the last quarter. State Street Corp increased its stake in Beacon Roofing Supply by 3.5% during the 1st quarter. State Street Corp now owns 1,132,944 shares of the company’s stock valued at $67,161,000 after purchasing an additional 37,862 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Beacon Roofing Supply by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 622,837 shares of the company’s stock valued at $36,922,000 after purchasing an additional 23,163 shares in the last quarter.

Insider Transactions at Beacon Roofing Supply

In other news, major shareholder Cd&R Investment Associates Ix, purchased 107,185 shares of the stock in a transaction that occurred on Monday, January 30th. The shares were purchased at an average cost of $55.98 per share, with a total value of $6,000,216.30. Following the completion of the acquisition, the insider now owns 15,072,084 shares of the company’s stock, valued at approximately $843,735,262.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BECN. Royal Bank of Canada cut their price target on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Monday, November 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Beacon Roofing Supply from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, January 10th. Zelman & Associates began coverage on shares of Beacon Roofing Supply in a research note on Tuesday, February 7th. They set a “hold” rating on the stock. Stifel Nicolaus upped their price target on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, December 19th. Finally, Robert W. Baird cut their price target on shares of Beacon Roofing Supply from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 24th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.14.

Beacon Roofing Supply Stock Up 9.3 %

NASDAQ:BECN opened at $65.27 on Friday. The firm has a market capitalization of $4.25 billion, a P/E ratio of 11.74 and a beta of 1.64. Beacon Roofing Supply, Inc. has a 1-year low of $45.71 and a 1-year high of $66.79. The company’s fifty day moving average price is $56.34 and its 200-day moving average price is $56.59. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.10.

Beacon Roofing Supply Company Profile

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Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.