Goldentree Asset Management LP Has $25.21 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Goldentree Asset Management LP reduced its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 32.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 292,153 shares of the company’s stock after selling 143,307 shares during the period. Beacon Roofing Supply comprises 2.0% of Goldentree Asset Management LP’s holdings, making the stock its 17th largest position. Goldentree Asset Management LP’s holdings in Beacon Roofing Supply were worth $25,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its position in shares of Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after buying an additional 963,633 shares during the last quarter. Boston Partners raised its stake in Beacon Roofing Supply by 79.6% in the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after acquiring an additional 569,627 shares during the period. Fisher Asset Management LLC lifted its holdings in Beacon Roofing Supply by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock valued at $85,887,000 after purchasing an additional 2,607 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Beacon Roofing Supply by 18.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock worth $83,239,000 after purchasing an additional 152,030 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Beacon Roofing Supply by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock valued at $52,182,000 after purchasing an additional 5,497 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

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

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $112.79 on Friday. The stock has a market capitalization of $6.98 billion, a PE ratio of 19.28 and a beta of 1.54. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week 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. The business has a fifty day moving average price of $96.60 and a two-hundred day moving average price of $93.50.

Insider Activity at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the sale, the insider now owns 6,531 shares in the company, valued at approximately $718,410. This trade represents a 28.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clement Munroe Best III sold 7,037 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the transaction, the insider now owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,874 shares of company stock valued at $1,812,146 over the last quarter. 1.30% of the stock is owned by corporate insiders.

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.