Teacher Retirement System of Texas Invests $206,000 in UWM Holdings Co. (NYSE:UWMC)

Teacher Retirement System of Texas bought a new stake in UWM Holdings Co. (NYSE:UWMC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 35,127 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in UWM in the 4th quarter valued at about $77,000. HB Wealth Management LLC raised its stake in UWM by 23.0% in the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock valued at $82,000 after buying an additional 2,631 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in shares of UWM in the third quarter valued at approximately $85,000. Quantinno Capital Management LP bought a new position in shares of UWM during the 3rd quarter worth approximately $106,000. Finally, Secure Asset Management LLC acquired a new position in shares of UWM during the 4th quarter worth approximately $119,000. Institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on UWMC. Keefe, Bruyette & Woods upgraded shares of UWM from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $6.50 to $7.50 in a research note on Monday, March 3rd. Wedbush reaffirmed a “neutral” rating and set a $6.50 target price on shares of UWM in a report on Monday, March 3rd. Finally, Morgan Stanley dropped their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $7.25.

UWM Stock Performance

Shares of UWM stock opened at $5.79 on Thursday. The company has a 50 day moving average of $6.12 and a 200-day moving average of $6.46. The company has a market cap of $9.25 billion, a PE ratio of -25.17 and a beta of 1.64. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM Holdings Co. has a 1-year low of $5.30 and a 1-year high of $9.74.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $560.21 million for the quarter, compared to the consensus estimate of $645.75 million. As a group, equities research analysts forecast that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 6.91%. UWM’s payout ratio is 500.00%.

UWM Company Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.