Beacon Roofing Supply Inc. (NASDAQ:BECN) has reported a significant transaction involving its President & CEO, Julian Francis. The executive sold 9,841 shares of the company's common stock, resulting in a total sale value exceeding $963,000. This transaction occurred on May 20, 2024, with the weighted average sale price reported at $97.91 per share.
The sale was executed in multiple trades with prices ranging between $97.77 and $98.04. These details were provided in a footnote attached to the filing, which also stated Francis's commitment to disclose full information regarding the specific numbers of shares sold at each price point upon request.
Following this transaction, Francis still retains a substantial holding in the company, with 90,245 shares of Beacon Roofing Supply remaining in his possession. This figure includes an additional 176 shares acquired under the company's 2023 Employee Stock Purchase Plan, which aligns with Section 423 of the Internal Revenue Code.
Investors and followers of Beacon Roofing Supply will be keeping a close eye on such transactions, as they often provide insights into executives' perspectives on the company's current valuation and future prospects.
InvestingPro Insights
As Beacon Roofing Supply Inc. (NASDAQ:BECN) navigates through the current market, the company's President & CEO Julian Francis's recent stock sale has caught the attention of investors. To further understand the context of this transaction, it's essential to consider the company's financial health and market performance, as indicated by key metrics from InvestingPro.
InvestingPro Data shows Beacon Roofing Supply with a market capitalization of $6.07 billion and a negative P/E ratio, reflecting the challenges it has faced in profitability over the last twelve months. Despite this, the company has seen a revenue growth of 9.73% during the same period, indicating an expanding business scale. Additionally, Beacon Roofing Supply has a Price / Book ratio of 3.3, which could suggest that the market values the company's assets favorably relative to its stock price.
Two notable InvestingPro Tips for Beacon Roofing Supply include the expectation of net income growth this year and the fact that 9 analysts have revised their earnings upwards for the upcoming period. These insights could signal a positive shift in the company's financial trajectory, aligning with the additional 176 shares acquired by the CEO under the company's stock purchase plan, potentially indicating his confidence in the company's future performance.
For investors seeking a deeper dive into Beacon Roofing Supply's prospects, there are additional InvestingPro Tips available. These tips provide a comprehensive analysis of the company's financials, stock price volatility, and liquidity position, among other factors. By using coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to gain access to these valuable insights.
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