Ellington Management Group LLC Takes Position in Taylor Morrison (TMHC)

Ellington Management Group LLC bought a new stake in Taylor Morrison (NYSE:TMHC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,603 shares of the construction company’s stock, valued at approximately $455,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its holdings in shares of Taylor Morrison by 94.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 6,502,696 shares of the construction company’s stock worth $159,121,000 after acquiring an additional 3,162,765 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Taylor Morrison by 31.1% during the third quarter. Dimensional Fund Advisors LP now owns 4,591,375 shares of the construction company’s stock worth $101,239,000 after acquiring an additional 1,089,798 shares in the last quarter. Greenhaven Associates Inc. raised its holdings in shares of Taylor Morrison by 6.7% during the fourth quarter. Greenhaven Associates Inc. now owns 2,695,488 shares of the construction company’s stock worth $65,959,000 after acquiring an additional 169,244 shares in the last quarter. NWQ Investment Management Company LLC raised its holdings in shares of Taylor Morrison by 2.4% during the third quarter. NWQ Investment Management Company LLC now owns 2,229,932 shares of the construction company’s stock worth $49,170,000 after acquiring an additional 52,934 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Taylor Morrison by 1.8% during the third quarter. JPMorgan Chase & Co. now owns 2,124,192 shares of the construction company’s stock worth $46,243,000 after acquiring an additional 37,257 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Several analysts recently issued reports on the company. ValuEngine lowered Taylor Morrison from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Barclays cut their price objective on Taylor Morrison from $28.00 to $25.00 and set a “hold” rating for the company in a report on Monday, March 26th. Wells Fargo upgraded Taylor Morrison from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Friday, January 5th. UBS upgraded Taylor Morrison from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. Finally, Deutsche Bank raised their target price on Taylor Morrison from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $28.00.

In other news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $27.14, for a total value of $40,702,726.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Terracciano sold 5,788 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $23.97, for a total value of $138,738.36. Following the completion of the sale, the insider now directly owns 4,168 shares in the company, valued at $99,906.96. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

NYSE TMHC opened at $23.34 on Friday. Taylor Morrison has a fifty-two week low of $19.68 and a fifty-two week high of $28.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.55 and a current ratio of 7.73. The stock has a market cap of $2,652.64, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.76 and a beta of 1.42.

Taylor Morrison (NYSE:TMHC) last posted its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.07. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. Taylor Morrison had a return on equity of 5.76% and a net margin of 2.36%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. analysts anticipate that Taylor Morrison will post 2.61 earnings per share for the current fiscal year.

Taylor Morrison announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 3rd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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Taylor Morrison Profile

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family detached and attached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.

Institutional Ownership by Quarter for Taylor Morrison (NYSE:TMHC)

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