Meritage Homes announces a two-for-one stock split, effective January 3, 2025, for shareholders as of December 31, 2024.
Quiver AI Summary
Meritage Homes Corporation has announced a two-for-one stock split, with the Board of Directors declaring the split in the form of a stock dividend. Shareholders of record as of December 31, 2024, will receive one additional share for each share they hold, with payment occurring after the market closes on January 2, 2025. Trading on a split-adjusted basis will begin on January 3, 2025. Meritage, the fifth-largest homebuilder in the U.S., specializes in energy-efficient and affordable homes across multiple states and has delivered over 190,000 homes in its 38-year history, earning numerous awards for its construction quality and environmental sustainability.
Potential Positives
- The announcement of a two-for-one stock split is likely to make shares more accessible to a broader range of investors, which could enhance liquidity and potentially attract new shareholders.
- This stock split reflects confidence from the Board of Directors in the company's performance and future growth prospects, sending a positive signal to the market.
- Meritage Homes Corporation's recognition as a leader in energy-efficient homebuilding highlights its commitment to sustainability, which can enhance its brand reputation and appeal to environmentally conscious consumers.
Potential Negatives
- Declaring a stock split can be perceived negatively, as it may raise concerns about the company's current stock price performance, potentially indicating struggles in maintaining value.
FAQ
What is the stock split ratio declared by Meritage Homes?
Meritage Homes has declared a two-for-one stock split of its common stock.
When will the stock split become effective?
The stock split will be effective after the close of market on January 2, 2025.
Who qualifies for the stock dividend?
Stockholders of record at the close of business on December 31, 2024, will qualify for the stock dividend.
When does trading start on a split-adjusted basis?
Trading will begin on a split-adjusted basis on January 3, 2025.
What distinguishes Meritage Homes in the homebuilding industry?
Meritage Homes is known for its energy-efficient, affordable homes and award-winning customer experience.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MTH Insider Trading Activity
$MTH insiders have traded $MTH stock on the open market 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $MTH stock by insiders over the last 6 months:
- R. ODELL MICHAEL sold 5,000 shares.
- HILLA SFERRUZZA (Chief Financial Officer) sold 2,500 shares.
- LOUIS E CALDERA sold 1,000 shares.
- PETER L AX sold 3,000 shares.
- JAVIER FELICIANO (EVP Chief People Officer) sold 3,000 shares.
- PHILLIPPE LORD (Chief Executive Officer) has traded it 3 times. They made 0 purchases and 3 sales, selling 10,000 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MTH Hedge Fund Activity
We have seen 206 institutional investors add shares of $MTH stock to their portfolio, and 222 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BALYASNY ASSET MANAGEMENT L.P. added 541,242 shares (+2179.6%) to their portfolio in Q3 2024
- FULLER & THALER ASSET MANAGEMENT, INC. removed 523,811 shares (-64.2%) from their portfolio in Q3 2024
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 473,313 shares (-35.8%) from their portfolio in Q3 2024
- MORGAN STANLEY added 330,834 shares (+90.6%) to their portfolio in Q3 2024
- THRIVENT FINANCIAL FOR LUTHERANS removed 243,167 shares (-74.0%) from their portfolio in Q3 2024
- WEDGE CAPITAL MANAGEMENT L L P/NC added 239,511 shares (+734.4%) to their portfolio in Q3 2024
- NORGES BANK added 215,754 shares (+49.3%) to their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SCOTTSDALE, Ariz., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Meritage Homes Corporation (NYSE: MTH, “Meritage” or the “Company”), the fifth-largest homebuilder in the U.S., today announced that its Board of Directors has declared a two-for-one stock split of Meritage’s common stock in the form of a stock dividend. Each stockholder of record at the close of business on December 31, 2024 will receive one additional share of common stock for each share of common stock held, payable after the close of market on January 2, 2025. Trading will begin on a split-adjusted basis on January 3, 2025.
About Meritage Homes Corporation
Meritage is the fifth-largest public homebuilder in the United States, based on homes closed in 2023. The Company offers energy-efficient and affordable entry-level and first move-up homes. Operations span across Arizona, California, Colorado, Utah, Texas, Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina and Tennessee.
Meritage has delivered over 190,000 homes in its 38-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is an industry leader in energy-efficient homebuilding, an eleven-time recipient of the U.S. Environmental Protection Agency’s (EPA) ENERGY STAR® Partner of the Year for Sustained Excellence Award and Residential New Construction Market Leader Award, as well as a four-time recipient of the EPA's Indoor airPLUS Leader Award.
For more information, visit www.meritagehomes.com .
| Contacts: | Emily Tadano, VP Investor Relations and ESG |
| (480) 515-8979 (office) | |
| [email protected] |
