Handelsbanken Fonder AB Cuts Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Handelsbanken Fonder AB lessened its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,495 shares of the company’s stock after selling 1,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Beacon Roofing Supply were worth $1,777,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. Quarry LP boosted its stake in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth about $28,000. Principal Securities Inc. boosted its stake in shares of Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after purchasing an additional 196 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of Beacon Roofing Supply by 14.1% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after purchasing an additional 206 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Roofing Supply Stock Up 0.6 %

Shares of NASDAQ:BECN opened at $116.07 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company has a fifty day simple moving average of $111.72 and a 200 day simple moving average of $100.94. The firm has a market cap of $7.15 billion, a PE ratio of 19.84 and a beta of 1.62. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $121.42.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BECN. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Royal Bank of Canada lifted their price target 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. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Stephens reaffirmed an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, BMO Capital Markets lifted their price target on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $120.17.

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.