New York State Teachers Retirement System Buys 537 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

New York State Teachers Retirement System boosted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,727 shares of the company’s stock after acquiring an additional 537 shares during the period. New York State Teachers Retirement System’s holdings in Beacon Roofing Supply were worth $561,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Beacon Roofing Supply during the first quarter worth $26,000. PNC Financial Services Group Inc. increased its stake in shares of Beacon Roofing Supply by 145.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after buying an additional 203 shares during the period. Quarry LP increased its holdings in Beacon Roofing Supply by 127.1% during the fourth quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after buying an additional 225 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter valued at $36,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Beacon Roofing Supply by 49.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the sale, the executive vice president now owns 176 shares in the company, valued at approximately $16,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the transaction, the insider now owns 10,531 shares in the company, valued at approximately $1,000,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction of $306,767.16. Following the completion of the sale, the executive vice president now directly owns 176 shares of the company’s stock, valued at $16,521.12. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN traded up $0.33 during midday trading on Tuesday, reaching $97.03. The company’s stock had a trading volume of 628,305 shares, compared to its average volume of 688,149. Beacon Roofing Supply, Inc. has a fifty-two week low of $68.50 and a fifty-two week high of $103.75. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.87 and a quick ratio of 1.02. The business’s fifty day simple moving average is $96.74 and its 200-day simple moving average is $90.08. The company has a market capitalization of $6.17 billion, a P/E ratio of -154.02 and a beta of 1.58.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. As a group, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BECN shares. StockNews.com lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Loop Capital upped their price target on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. raised their price objective on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. BMO Capital Markets upped their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, TheStreet raised shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Moderate Buy” and an average price target of $109.45.

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.