Russell Investments Group Ltd. cut its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 45.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,770 shares of the company’s stock after selling 28,276 shares during the period. Russell Investments Group Ltd.’s holdings in Beacon Roofing Supply were worth $2,002,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Beacon Roofing Supply during the 4th quarter valued at $1,394,000. Citigroup Inc. raised its position in shares of Beacon Roofing Supply by 18.3% in the 4th quarter. Citigroup Inc. now owns 35,158 shares of the company’s stock worth $2,016,000 after acquiring an additional 5,447 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Beacon Roofing Supply by 0.7% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,408,741 shares of the company’s stock worth $83,510,000 after acquiring an additional 9,922 shares in the last quarter. Barclays PLC grew its stake in Beacon Roofing Supply by 110.2% during the 4th quarter. Barclays PLC now owns 91,584 shares of the company’s stock worth $5,253,000 after buying an additional 48,008 shares during the last quarter. Finally, Ironwood Investment Management LLC grew its stake in Beacon Roofing Supply by 1.4% during the 4th quarter. Ironwood Investment Management LLC now owns 29,938 shares of the company’s stock worth $1,717,000 after buying an additional 427 shares during the last quarter.
Insider Buying and Selling
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 103,931 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, July 29th. The stock was bought at an average price of $57.73 per share, with a total value of $5,999,936.63. Following the acquisition, the insider now owns 14,859,579 shares of the company’s stock, valued at approximately $857,843,495.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on BECN. William Blair downgraded Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 19th. Wells Fargo & Company dropped their price target on Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 28th. JPMorgan Chase & Co. lowered their target price on Beacon Roofing Supply from $66.00 to $59.00 in a research note on Friday, July 15th. Stephens lowered their target price on Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, August 8th. Finally, Robert W. Baird upped their target price on Beacon Roofing Supply …….