Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Skylands Capital LLC

Skylands Capital LLC cut its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,200 shares of the company’s stock after selling 19,317 shares during the period. Beacon Roofing Supply accounts for approximately 3.1% of Skylands Capital LLC’s investment portfolio, making the stock its 7th biggest holding. Skylands Capital LLC’s holdings in Beacon Roofing Supply were worth $22,165,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP increased its holdings in Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Blue Trust Inc. increased its holdings in Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Beacon Roofing Supply during the 3rd quarter worth approximately $28,000. Principal Securities Inc. increased its holdings in Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after purchasing an additional 196 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Beacon Roofing Supply by 14.1% during 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 and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $116.62 on Monday. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $121.42. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The business’s 50 day simple moving average is $111.30 and its 200 day simple moving average is $100.51. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 19.93 and a beta of 1.62.

Analyst Upgrades and Downgrades

A number of analysts have commented on BECN shares. 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. Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Benchmark reissued a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. BMO Capital Markets boosted their price objective on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Beacon Roofing Supply has an average rating of “Hold” and a consensus price target of $120.17.

Beacon Roofing Supply Profile

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.