Macquarie Group Ltd. Reduces Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Posted by on Mar 7th, 2023

Macquarie Group Ltd. cut its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,041 shares of the company’s stock after selling 8,027 shares during the period. Macquarie Group Ltd. owned approximately 0.30% of Beacon Roofing Supply worth $10,619,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Manhattan Co. boosted its position in Beacon Roofing Supply by 4.3% in the first quarter. First Manhattan Co. now owns 5,633 shares of the company’s stock worth $333,000 after purchasing an additional 233 shares during the last quarter. AlphaCrest Capital Management LLC boosted its position in Beacon Roofing Supply by 4.0% in the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock worth $419,000 after purchasing an additional 273 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in Beacon Roofing Supply by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Beacon Roofing Supply by 23.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,633 shares of the company’s stock worth $87,000 after purchasing an additional 309 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. boosted its position in Beacon Roofing Supply by 3.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 10,930 shares of the company’s stock worth $648,000 after purchasing an additional 322 shares during the last quarter.

Beacon Roofing Supply Stock Down 1.8 %

Shares of BECN opened at $66.11 on Tuesday. The business’s 50 day moving average is $57.45 and its 200 day moving average is $56.76. The company has a market capitalization of $4.25 billion, a PE ratio of 11.94 and a beta of 1.58. Beacon Roofing Supply, Inc. has a 12-month low of $45.71 and a 12-month high of $68.31. The company has a current ratio of 2.03, a quick ratio of 1.08 and a debt-to-equity ratio of 1.01.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 107,185 shares of the firm’s stock in a transaction that occurred on Monday, January 30th. The shares were bought at an average price of $55.98 per share, with a total value of $6,000,216.30. Following the purchase, the insider now owns 15,072,084 shares of the company’s stock, valued at $843,735,262.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.95% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BECN has been the topic of several research reports. Royal Bank of Canada dropped their target price on 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. Stephens lifted their price objective on Beacon Roofing Supply from $65.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, February 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on Beacon Roofing Supply from $81.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, February 27th. Robert W. Baird lifted their price objective on Beacon Roofing Supply from $65.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, February 27th. Finally, Stifel Nicolaus lifted their price objective on Beacon Roofing Supply from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 19th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus price target of $70.57.

About Beacon Roofing Supply

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding BECN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating).

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.