Koch Industries Inc. Buys New Position in M.D.C. Holdings, Inc. (NYSE:MDC)

Koch Industries Inc. purchased a new stake in M.D.C. Holdings, Inc. (NYSE:MDC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 351,275 shares of the construction company’s stock, valued at approximately $342,000. Koch Industries Inc. owned 0.68% of M.D.C. Holdings at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. acquired a new stake in shares of M.D.C. Holdings in the first quarter valued at about $108,000. Winslow Evans & Crocker Inc. increased its position in shares of M.D.C. Holdings by 34.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the construction company’s stock valued at $139,000 after acquiring an additional 1,026 shares during the last quarter. Amalgamated Bank acquired a new position in M.D.C. Holdings during the second quarter worth approximately $202,000. Parsec Financial Management Inc. acquired a new position in M.D.C. Holdings during the second quarter worth approximately $208,000. Finally, Capital Fund Management S.A. acquired a new position in M.D.C. Holdings during the second quarter worth approximately $223,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

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A number of brokerages have weighed in on MDC. Deutsche Bank AG boosted their price target on M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. BidaskClub raised M.D.C. Holdings from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. Zacks Investment Research downgraded M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. KeyCorp restated a “hold” rating on shares of M.D.C. Holdings in a report on Friday, August 25th. Finally, Wells Fargo & Company upgraded M.D.C. Holdings from an “underperform” rating to a “market perform” rating and set a $30.00 price objective for the company in a report on Wednesday, August 30th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. M.D.C. Holdings presently has a consensus rating of “Hold” and a consensus price target of $30.00.

In other news, Director David E. Blackford sold 26,250 shares of M.D.C. Holdings stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total transaction of $947,887.50. Following the completion of the transaction, the director now directly owns 40,928 shares of the company’s stock, valued at approximately $1,477,910.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 25.30% of the stock is owned by insiders.

Shares of M.D.C. Holdings, Inc. (NYSE MDC) traded down 0.27% during mid-day trading on Friday, reaching $36.37. 157,838 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $33.62 and a 200-day moving average price of $33.56. The stock has a market cap of $1.89 billion, a PE ratio of 15.41 and a beta of 1.34. M.D.C. Holdings, Inc. has a one year low of $22.31 and a one year high of $36.96.

M.D.C. Holdings (NYSE:MDC) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The business had revenue of $648.97 million during the quarter, compared to analysts’ expectations of $623.95 million. During the same period in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, analysts predict that M.D.C. Holdings, Inc. will post $2.69 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.74%. The ex-dividend date is Tuesday, November 7th.

M.D.C. Holdings Profile

M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.

Institutional Ownership by Quarter for M.D.C. Holdings (NYSE:MDC)

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