First Wilshire Securities Management Inc. Acquires New Shares in Tri Pointe Homes Inc. $TPH

Key Points

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First Wilshire Securities Management Inc. bought a new position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 312,885 shares of the construction company's stock, valued at approximately $9,987,000. Tri Pointe Homes makes up approximately 2.9% of First Wilshire Securities Management Inc.'s investment portfolio, making the stock its 11th biggest position. First Wilshire Securities Management Inc. owned about 0.35% of Tri Pointe Homes at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. boosted its position in shares of Tri Pointe Homes by 5.0% during the first quarter. Xponance Inc. now owns 7,095 shares of the construction company's stock valued at $226,000 after buying an additional 336 shares during the last quarter. Federated Hermes Inc. boosted its position in Tri Pointe Homes by 0.8% in the first quarter. Federated Hermes Inc. now owns 55,975 shares of the construction company's stock worth $1,787,000 after purchasing an additional 430 shares during the last quarter. Hancock Whitney Corp boosted its position in Tri Pointe Homes by 8.3% in the fourth quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company's stock worth $210,000 after purchasing an additional 442 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Tri Pointe Homes by 5.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,645 shares of the construction company's stock valued at $350,000 after buying an additional 488 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Tri Pointe Homes by 2.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,941 shares of the construction company's stock valued at $1,086,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Tri Pointe Homes Stock Performance

Shares of NYSE:TPH traded up $1.8850 during midday trading on Friday, reaching $36.1550. 1,536,842 shares of the company traded hands, compared to its average volume of 1,203,321. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a 12 month low of $27.90 and a 12 month high of $46.91. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The firm's fifty day moving average price is $32.88 and its two-hundred day moving average price is $31.88.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The company had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. During the same period in the previous year, the company posted $1.25 EPS. The firm's revenue for the quarter was down 22.3% compared to the same quarter last year. On average, equities analysts expect that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its board has initiated a share repurchase plan on Thursday, July 24th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wolfe Research lowered Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wedbush restated an "outperform" rating and issued a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wall Street Zen lowered Tri Pointe Homes from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Evercore ISI lowered their target price on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.80.

Tri Pointe Homes Profile

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.