TRI Pointe Group (TPH, Financial) (TPH - $17.25– NYSE) is one the nation's leading homebuilders. The company reported a good quarter beating consensus estimates, but sentiment turned negative on the stock. Housing orders accelerated in the quarter and more of those orders are from the Millennial demographic. Management noted that underlying trends remain favorable with strong growth in backlog both in dollars and units, but near-term sales mix will likely be a headwind. Historic low interest rates continue to be supportive to the housing sector.
From Keeley Asset Management Corp (Trades, Portfolio)'s Small-Mid Cap Value Fund fourth-quarter 2020 shareholder commentary.
