Equitable Trust Co. Has $614,000 Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Equitable Trust Co. grew its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,106 shares of the company’s stock after purchasing an additional 156 shares during the period. Equitable Trust Co.’s holdings in Beacon Roofing Supply were worth $614,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in shares of Beacon Roofing Supply by 15.3% during the first quarter. Acadian Asset Management LLC now owns 374,276 shares of the company’s stock worth $36,671,000 after acquiring an additional 49,634 shares in the last quarter. Boston Partners increased its position in shares of Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after acquiring an additional 569,627 shares in the last quarter. Blair William & Co. IL bought a new stake in shares of Beacon Roofing Supply during the first quarter worth $644,000. Bayesian Capital Management LP bought a new stake in shares of Beacon Roofing Supply during the first quarter worth $572,000. Finally, Comerica Bank increased its position in shares of Beacon Roofing Supply by 109.5% during the first quarter. Comerica Bank now owns 89,967 shares of the company’s stock worth $8,818,000 after acquiring an additional 47,028 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $103.25 on Friday. The stock has a market cap of $6.39 billion, a P/E ratio of 17.65 and a beta of 1.54. 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 company has a fifty day moving average price of $89.89 and a two-hundred day moving average price of $92.32. Beacon Roofing Supply, Inc. has a one year low of $72.56 and a one year high of $105.42.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stephens lowered their price objective on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, 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 report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and an average target price of $115.22.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the sale, the insider now owns 69,514 shares in the company, valued at $6,984,071.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now owns 9,131 shares in the company, valued at approximately $821,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,274 shares of company stock worth $1,526,146 over the last quarter. 1.30% of the stock is currently owned by insiders.

Beacon Roofing Supply Company 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.