Loomis Sayles & Co. L P Lowers Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Loomis Sayles & Co. L P cut its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 343,633 shares of the company’s stock after selling 1,394 shares during the period. Loomis Sayles & Co. L P’s holdings in Beacon Roofing Supply were worth $29,701,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Boston Partners increased its holdings in shares of 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 raised its position in shares of Beacon Roofing Supply by 0.3% in the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock worth $85,887,000 after acquiring an additional 2,607 shares in 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 valued at $83,239,000 after purchasing an additional 152,030 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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. Finally, WCM Investment Management LLC raised its holdings in Beacon Roofing Supply by 1.6% in the third quarter. WCM Investment Management LLC now owns 524,985 shares of the company’s stock worth $46,052,000 after purchasing an additional 8,054 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stephens restated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Royal Bank of Canada raised their target price on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Robert W. Baird increased their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.00.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 5,637 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total transaction of $566,349.39. Following the sale, the insider now directly owns 69,514 shares of the company’s stock, valued at $6,984,071.58. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now owns 9,131 shares of the company’s stock, valued at approximately $821,790. This represents a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,874 shares of company stock worth $1,812,146. Company insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $113.77 on Tuesday. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $116.30. The business’s 50 day moving average price is $94.45 and its 200 day moving average price is $92.94. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm has a market cap of $7.04 billion, a P/E ratio of 19.45 and a beta of 1.54.

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.