Beacon Roofing Supply, Inc. (NASDAQ:BECN) is Skylands Capital LLC’s 7th Largest Position

Skylands Capital LLC reduced its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 234,514 shares of the company’s stock after selling 18,025 shares during the quarter. Beacon Roofing Supply comprises about 3.0% of Skylands Capital LLC’s investment portfolio, making the stock its 7th biggest position. Skylands Capital LLC owned 0.37% of Beacon Roofing Supply worth $20,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BECN. Parkside Financial Bank & Trust boosted its position in Beacon Roofing Supply by 49.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after purchasing an additional 161 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Beacon Roofing Supply by 63.6% in the third quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after purchasing an additional 325 shares during the period. Headlands Technologies LLC acquired a new stake in Beacon Roofing Supply during the 3rd quarter valued at $98,000. CI Investments Inc. purchased a new position in Beacon Roofing Supply in the 3rd quarter valued at about $157,000. Finally, AlphaMark Advisors LLC purchased a new position in Beacon Roofing Supply in the third quarter valued at about $244,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Trading Down 0.4 %

Shares of BECN stock traded down $0.36 during trading hours on Monday, reaching $98.64. 182,681 shares of the stock traded hands, compared to its average volume of 699,101. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $6.26 billion, a PE ratio of -210.81 and a beta of 1.63. Beacon Roofing Supply, Inc. has a 1-year low of $57.01 and a 1-year high of $102.83. The business has a fifty day moving average price of $92.59 and a 200 day moving average price of $85.25.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 earnings per share. On average, equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current year.

Analyst Upgrades and Downgrades

BECN has been the topic of several research analyst reports. Loop Capital raised their price objective on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Robert W. Baird raised shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $99.00 to $115.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. lowered their target price on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, StockNews.com upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.92.

Insider Activity

In other news, 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 owns 176 shares in the company, valued at approximately $16,521.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction on 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 disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.