MML Investors Services LLC Invests $246,000 in Tri Pointe Homes, Inc. (NYSE:TPH)

MML Investors Services LLC bought a new position in Tri Pointe Homes, Inc. (NYSE:TPH) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,428 shares of the construction company’s stock, valued at approximately $246,000.

A number of other institutional investors have also added to or reduced their stakes in TPH. Assenagon Asset Management S.A. boosted its holdings in shares of Tri Pointe Homes by 260.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after purchasing an additional 1,024,425 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Tri Pointe Homes by 1,417.8% in the second quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company’s stock worth $16,529,000 after buying an additional 414,500 shares in the last quarter. Weiss Asset Management LP bought a new position in Tri Pointe Homes during the third quarter valued at approximately $16,066,000. Cubist Systematic Strategies LLC raised its stake in shares of Tri Pointe Homes by 149.5% during the second quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock worth $19,907,000 after acquiring an additional 320,221 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Tri Pointe Homes in the 2nd quarter worth approximately $9,599,000. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

TPH stock opened at $37.16 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. Tri Pointe Homes, Inc. has a 1 year low of $33.24 and a 1 year high of $47.78. The firm has a 50-day moving average of $41.57 and a 200 day moving average of $41.85. The company has a market cap of $3.48 billion, a P/E ratio of 7.71, a PEG ratio of 0.64 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The company’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. On average, sell-side analysts forecast that Tri Pointe Homes, Inc. will post 4.72 EPS for the current year.

Tri Pointe Homes declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Oppenheimer dropped their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada cut their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Company 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.