Cornercap Investment Counsel Inc. Invests $369,000 in Tri Pointe Homes, Inc. (NYSE:TPH)

Cornercap Investment Counsel Inc. acquired a new stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,164 shares of the construction company's stock, valued at approximately $369,000.

A number of other hedge funds have also recently modified their holdings of the stock. Pictet Asset Management Holding SA boosted its position in Tri Pointe Homes by 19.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,815 shares of the construction company's stock worth $537,000 after purchasing an additional 2,427 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Tri Pointe Homes in the 4th quarter valued at $118,000. Norges Bank purchased a new stake in Tri Pointe Homes during the fourth quarter worth $14,815,000. JPMorgan Chase & Co. grew its position in Tri Pointe Homes by 27.4% during the fourth quarter. JPMorgan Chase & Co. now owns 735,026 shares of the construction company's stock valued at $26,652,000 after buying an additional 158,246 shares during the period. Finally, EFG Asset Management North America Corp. increased its holdings in Tri Pointe Homes by 58.8% in the fourth quarter. EFG Asset Management North America Corp. now owns 73,844 shares of the construction company's stock valued at $2,677,000 after buying an additional 27,336 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH traded down $1.81 during trading on Thursday, reaching $30.65. The stock had a trading volume of 218,409 shares, compared to its average volume of 853,230. The business has a fifty day moving average price of $33.55 and a 200-day moving average price of $38.45. Tri Pointe Homes, Inc. has a 1-year low of $30.09 and a 1-year high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The stock has a market cap of $2.81 billion, a PE ratio of 6.35, a PEG ratio of 0.67 and a beta of 1.71.

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Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. On average, equities analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 7.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Seaport Res Ptn upgraded Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Oppenheimer dropped their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Wedbush reaffirmed a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. StockNews.com cut shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada cut shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $40.60.

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.