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Posts Tagged ‘market cap’

Volatility has Hit Patrick Industries, Inc Stock

September 10th, 2015 Comments off

patrick_ind_logoFollowing MHProNews‘ story yesterday (Sept. 9. 2015) about the sale of $6.38 million worth of Patrick Industries, Inc. (NASDAQ:PATK) stock on Sept. 4, 2015 by Tontine Capital Partners LP, the company continues to hold 12.78 percent of Patrick’s market cap, equivalent to two million shares.

The significance of this unloading indicates Tontine may be pessimistic about the company and its stock price. As a result, octafinance, noting the stock has declined 21 percent in the last 125 days, has rated the stock as a “sell.”

Although Gendell Jeffrey L., the most bullish institutional investor, has sold approximately 113,000 shares of Patrick since last November, as MHProNews has reported, he continues to hold 2.57 million shares, or 16.56 percent of the portfolio.

Meanwhile, Patrick’s President and CEO, Todd M Cleveland sold 100,000 shares, also on Sept. 4., at $44.51 per share, for a total yield of $4,448,947.50, according to insidertradingreport. This report says the stock has rallied 54.29 percent in the last 52 weeks.

Patrick is a component supplier to the manufactured housing and recreational vehicle markets.##

(Image credit: Patrick Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Manufactured Home Wiring Provider Presenting at Sidoti Forum

March 11th, 2014 Comments off

Encore Wire Corporation’s Chief Financial Officer (CFO), Frank J. Bilban, will be presenting at Sidoti & Company’s annual Institutional Investor Forum, Mon., March 17 at the Grand Hyatt Hotel in New York City, according to wsj.com. Encore (NASDAQ:Wire) produces a broad spectrum of electrical building wire for commercial and industrial applications, including manufactured housing. MHProNews.com has learned Sidoti & Company, LLC provides institutional-quality research on companies of under $3 billion market capitalization (small cap), and more recently began researching micro-cap equity on companies with $250 million or under market capitalization. ##

(Image credit: Encore Wire Corp.)

Investors: Hold Off on Eco Building Products

November 21st, 2013 Comments off

Following up on a story we posted Nov. 14, 2013 regarding the use of Eco Red Shield Lumber’s treated wood products for modular homes as part of the Hurricane Sandy rebuild, Google Finance reports on Nov. 15, 2013 Eco Building Products (ECOB) dropped 1.47 percent to $0.0067. Additionally, smallcapnetwork says ECOB is down 84 percent since Jan. 1, 2013 and has dropped 98.7 percent over the last five years. The company’s market cap is $3.08 million, as MHProNews has learned, and a purchase order has been issued for seven truckloads of lumber set to be treated. ECOB’s financials reveal revenues for the past four quarters of $1,080k, $1,717k, $1,313k, and $1,060k and $4,862k and net losses, respectively, of $13,549k, $2,213k, $3,972k, and $4,862k. With $39k in cash to cover $17,817k in liabilities, investors should perhaps wait until the gap between the top and bottom lines narrows.

(Photo credit: Wikipedia)

Third Avenue Buys Into Three New Stocks

September 26th, 2013 Comments off

The chairman of the board of Third Avenue Assets Management, Marvin Whitman, announcing the company’s third quarter portfolio update, has acquired a 20 percent stake in Cavco Industries, Inc., a $510.4 million market cap with stock up over 25 percent in the last 12 months. He purchased 1,809,108 shares when the share price averaged $54 in the second quarter, accounting for 20.47 percent of all outstanding shares. Whitman previously sold his 50 percent share of Fleetwood Homes, Inc. to Cavco, as MHProNews reported here June 14, 2013, garnering Cavco stock in the exchange at that time. Noting Cavco is essentially debt free, Whitman says the company posted very strong results for the second quarter, and thinks “a considerable upside still exists for Cavco Common,” as reported by nasdaq.com. In a letter to investors, Whitman depicts three factors in hi stock analysis: “First the creditworthiness of the company issuing the equity; second, the ability of the issuer to grow net asset value (“NAV”) (or its surrogate book value) over the intermediate to longer term; and, three, the price of the common stock relative to NAV. As MHProNews knows, Cavco is the second largest producer of manufactured homes and modular homes and buildings in the U. S. The company’s Third Avenue Value Fund (TAVFX) closed Sept. 24 -0.07 percent at $57.62. He also purchased 823,730 shares of Total SA, the world’s fifth largest publicly-traded integrated oil and natural gas company; the company also bought 269,034 shares of Pargessa Holding SA, which owns operating companies in a variety of industries.

UMH Properties Receives a Strong ‘Buy’ on its Stock

September 24th, 2013 Comments off

Brad Thomas documents the annals of UMH Properties, Inc., (UMH:NYSE) since its beginning in 1968 to its election to REIT (real estate investment trust) status in 1982, and being publicly traded in 1985 after issuing an IPO, as reported in seekingalpha.com. Although it is considered a small REIT because its market cap is $184 million and has assets of $384 million, Thomas notes since 2009 the number of land lease communities it owns has risen from 28 to 68, and the homesites nearly doubling to 12,800. The company owns 37 manufactured housing communities (MHCs) in the Marcellus Shale region where energy companies are expected to be drilling, attracting possibly thousands of job-seekers who will need housing. UMH also has a financing arm that sell homes to consumers. Revenue is expected to surpass last year’s, he says, and UMH pays a higher dividend yield at 7.38% than either Sun Communities, Inc., or Equity LifeStyle Properties, its two closest peers, as MHProNews knows. After driving near every angle of financing through a fine tooth comb resulting in many charts, graphs and formulas, Thomas initiates a buy on the stock at $9.75 a share.

(Photo credit: UMH Properties, Inc.)

Nobility Homes: Poised to Regain the Crown?

July 30th, 2013 Comments off

Florida-based manufactured home producer Nobility Homes (NOBH) may become a good turnaround stock buy as baby boomers age and look for inexpensive housing in Central Fla. Currently saddled with a large inventory of new and pre-owned homes, Nobility has been run by CEO Terry Trexler since 1967, and with his CFO son, Thomas Traxler, controls 67 percent of the stock. They do not pay themselves outlandishly, and while the company’s market cap is $34 million, the current p/e ratio is 17.8. At $30k to $100k, their homes are aimed at the low to middle markets, and sales rose 30 percent from 2011 to 2012. This year, however, sales have been relatively flat. As long as the company can move its backlog of repossessed homes, and the housing market continues to improve in central Fla., seekingalpha.com says the company has no debt and earnings should significantly increase. As MHProNews reported, in yesterday’s (July 29) trading, Nobility’s stock rose 5.58 percent to 9.00.

(Photo credit: Nobility Homes)

Sun Communities to Offer Q2 2013 Results

July 25th, 2013 Comments off

Manufactured Housing Community owner Sun Communities, Inc. (NYSE:SUI) will release its Q2 2013 financials before the market opens Thurs., July 25, to be followed by a conference call at 11 a.m. that same morning. For the first quarter of this year revenue increased 24.4 percent over the same period last year. The company has a one-year low of $36.15, a one-year high of $57.78, and a 50-day moving average of $50.34. Sun fell -3.06 percent Wed., July 24 to close at 51.02. The dailypolitical reports Sun’s market cap is $1.887 billion and the P/E ratio is 281.44. As MHProNews knows, Sun Communities is a real estate investment trust (REIT) that owns and operates 380 manufactured housing and recreational vehicle communities comprised of 67,380 developed sites.

(Photo credit: Sun Communities, Inc.)

Killam of Canada Declares Dividend

July 19th, 2013 Comments off

Canada’s Killam Properties, Inc. (TSE:KMP) report investors of record on July 31 will be paid a dividend of $0.0483 per share on Aug. 15, 2013. Three research analysts have rated the stock with a hold rating and four have rated it buy. While shares opened at $13.90 today, July 19, Killam has a one-year low of $10.41 and a one-year high of $13.40 with a 50-day moving average of $11.09. According to zolmax.com the company has a market cap of $589.3 million and a PE ratio of 10.97. MHProNews knows Killam is one of the largest owners of manufactured housing communities in Canada with 50 properties comprised of 7,407 homesites.

(Photo credit: Killam Properties, Inc.)

Sun Declares Quarterly Dividend

June 20th, 2013 Comments off

Manufactured housing community owner Sun Communities, Inc. (NYSE:SUI) announces a quarterly dividend of $0.63 per share for investors of record as of June 28, 2013, payable on July 19, 2013. Represents a dividend yield of 5.06 percent, according to watchlistnews, with an ex-dividend date of June 26. With a 50-day moving average of $51. per share, sun has a market cap of $1.844 billion and a profit-to-earnings ratio of 266.15. The stock closed Wed., June 19 at 46.81. As MHProNews understands, Sun is a real estate investment trust (REIT) that owns 185 manufactured housing communities comprised of 67,380 developed sites.

(Photo credit: Sun Communities, Inc.)

Cavco Industries Shares Graded Up and Down

June 20th, 2013 Comments off

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) stock have been commented on by three different analysts, going in different directions each time, in the last seven weeks. On May 1 The Street downgraded Cavco from a buy rating to a hold rating; May 28 The Street upgraded shares from hold to buy; on June 3 analysts at Thomson Reuters/Verus downgraded the shares from hold to sell; and Mon., June 17 Sidoti upgraded Cavco shares from a neutral rating to a buy rating. Cavco Industries closed down -0.18% at 48.60 today, Wed., June 19, on a day when all housing stocks except one that we track closed down—and Cavco lost the least percent of those. According to watchlistnews.com, the company’s 50-day moving average is 46.15, the market cap is $338.1 million, and price to earnings ratio is 68.58. As MHProNews knows, Cavco is the second largest producer of factory-built homes in North America.

(Photo credit: Cavco Industries, Inc.)