MetLife Investment Management LLC lowered its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,132 shares of the company’s stock after selling 730 shares during the period. MetLife Investment Management LLC’s holdings in Beacon Roofing Supply were worth $1,485,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its holdings in shares of Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Beacon Roofing Supply by 298.6% during the third quarter. Bessemer Group Inc. now owns 1,120 shares of the company’s stock valued at $62,000 after buying an additional 839 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Beacon Roofing Supply during the second quarter worth about $67,000. Baird Financial Group Inc. acquired a new stake in shares of Beacon Roofing Supply in the 1st quarter worth about $209,000. Finally, PFS Investments Inc. bought a new position in Beacon Roofing Supply in the 1st quarter valued at about $211,000.
Wall Street Analyst Weigh In
Several analysts have recently commented on BECN shares. Robert W. Baird increased their price objective on Beacon Roofing Supply from $65.00 to $76.00 in a research note on Monday. Stephens lifted their price objective on shares of Beacon Roofing Supply from $65.00 to $73.00 in a report on Monday. Zelman & Associates initiated coverage on shares of Beacon Roofing Supply in a research report on Tuesday, February 7th. They set a “hold” rating on the stock. Stifel Nicolaus increased their price objective 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, Royal Bank of Canada lowered their price objective on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Monday, November 7th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and an average price target of $70.57.
Insiders Place Their Bets
Beacon Roofing Supply Stock Down 0.6 %
BECN stock opened at $64.88 on Tuesday. The company’s 50 day moving average is $56.52 and its 200 day moving average is $56.61. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 11.67 and a beta of 1.64. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply, Inc. has a 1-year low of $45.71 and a 1-year high of $66.79.
About Beacon Roofing Supply
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.
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