Mirabella Financial Services LLP Purchases Shares of 2,144 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Mirabella Financial Services LLP acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,144 shares of the company’s stock, valued at approximately $218,000.

Several other large investors have also modified their holdings of BECN. Equitable Trust Co. increased its stake in Beacon Roofing Supply by 1.7% during the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after acquiring an additional 122 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock worth $73,000 after purchasing an additional 150 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares in the last quarter. Cornerstone Investment Partners LLC raised its holdings in Beacon Roofing Supply by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock valued at $480,000 after buying an additional 166 shares during the period. Finally, HighTower Advisors LLC lifted its position in Beacon Roofing Supply by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after buying an additional 181 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Clement Munroe Best III sold 29,724 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the completion of the transaction, the insider now owns 87,943 shares in the company, valued at approximately $10,821,386.15. This represents a 25.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the completion of the sale, the insider now owns 22,642 shares in the company, valued at approximately $2,765,493.88. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,806 shares of company stock valued at $6,745,448. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on BECN shares. Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $124.00 to $124.35 in a research note on Wednesday, April 2nd. Loop Capital reissued a “hold” rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, March 21st. BMO Capital Markets reiterated a “market perform” rating and issued a $124.35 target price (down previously from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday, April 17th. Robert W. Baird boosted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Baird R W cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.47.

Beacon Roofing Supply Stock Down 0.2 %

NASDAQ:BECN opened at $123.65 on Tuesday. The stock has a 50-day simple moving average of $120.20 and a 200 day simple moving average of $110.80. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $123.90. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 21.14 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

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.