State Treasurer State of Michigan reduced its position in shares of CalAtlantic Group Inc (NYSE:CAA) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,400 shares of the industrial goods maker’s stock after selling 1,200 shares during the period. State Treasurer State of Michigan’s holdings in CalAtlantic Group were worth $1,545,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in CAA. Quantitative Systematic Strategies LLC purchased a new stake in shares of CalAtlantic Group during the 4th quarter worth about $209,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of CalAtlantic Group by 53.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,071 shares of the industrial goods maker’s stock valued at $230,000 after acquiring an additional 1,418 shares in the last quarter. Sanders Capital LLC raised its stake in shares of CalAtlantic Group by 1.4% in the 4th quarter. Sanders Capital LLC now owns 4,441,639 shares of the industrial goods maker’s stock valued at $273,171,000 after acquiring an additional 61,100 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of CalAtlantic Group by 4.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 63,348 shares of the industrial goods maker’s stock valued at $3,572,000 after acquiring an additional 2,570 shares in the last quarter. Finally, Bessemer Group Inc. bought a new position in shares of CalAtlantic Group in the 4th quarter valued at approximately $240,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Jeffrey Joseph Mccall sold 65,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $55.27, for a total value of $3,592,550.00. Following the completion of the sale, the chief financial officer now owns 178,519 shares in the company, valued at $9,866,745.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 39.50% of the company’s stock.
The firm has a market cap of $6,170.00 and a P/E ratio of 15.76. The company has a quick ratio of 0.29, a current ratio of 5.91 and a debt-to-equity ratio of 0.80. CalAtlantic Group Inc has a fifty-two week low of $33.56 and a fifty-two week high of $64.60.
Several brokerages have commented on CAA. B. Riley reaffirmed a “neutral” rating on shares of CalAtlantic Group in a research report on Wednesday, November 1st. Zacks Investment Research raised CalAtlantic Group from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, January 9th. MKM Partners lowered CalAtlantic Group from a “buy” rating to a “neutral” rating in a report on Tuesday, October 31st. Wedbush lowered CalAtlantic Group from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $41.00 to $51.00 in a report on Tuesday, October 31st. Finally, UBS Group started coverage on CalAtlantic Group in a report on Wednesday, October 25th. They set a “neutral” rating and a $42.00 price objective on the stock. Thirteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. CalAtlantic Group has a consensus rating of “Hold” and an average target price of $55.22.
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About CalAtlantic Group
CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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