Tri Pointe Homes Inc. (NYSE:TPH) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 3.9% during the first quarter, HoldingsChannel reports. The fund owned 13,629 shares of the construction company’s stock after selling 548 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Tri Pointe Homes were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TPH. Castlekeep Investment Advisors LLC acquired a new position in shares of Tri Pointe Homes during the fourth quarter worth about $60,261,000. Allianz Asset Management GmbH grew its position in Tri Pointe Homes by 54.8% during the first quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company’s stock worth $40,061,000 after buying an additional 444,153 shares during the period. Assenagon Asset Management S.A. grew its position in Tri Pointe Homes by 23.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,114,358 shares of the construction company’s stock worth $35,570,000 after buying an additional 210,810 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Tri Pointe Homes during the fourth quarter worth about $6,380,000. Finally, Northern Trust Corp grew its position in Tri Pointe Homes by 13.8% during the fourth quarter. Northern Trust Corp now owns 1,286,390 shares of the construction company’s stock worth $46,645,000 after buying an additional 155,694 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Down 0.4%

Shares of NYSE TPH opened at $32.86 on Tuesday. Tri Pointe Homes Inc. has a 12-month low of $27.90 and a 12-month high of $46.91. The company has a market capitalization of $2.98 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. The firm’s 50-day moving average is $32.11 and its two-hundred day moving average is $32.01.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The company had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was down 22.3% compared to the same quarter last year. Equities analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Tri Pointe Homes from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Wedbush restated an “outperform” rating and set a $43.00 target price on shares of Tri Pointe Homes in a research report on Friday, July 25th. Evercore ISI lowered their target price on shares of Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Finally, Wolfe Research lowered shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research report on Sunday, July 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tri Pointe Homes currently 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.