LSV Asset Management Sells 9,537 Shares of M.D.C. Holdings, Inc. (MDC)

LSV Asset Management reduced its position in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,211,296 shares of the construction company’s stock after selling 9,537 shares during the quarter. LSV Asset Management owned 3.92% of M.D.C. worth $65,410,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp bought a new stake in shares of M.D.C. during the 2nd quarter valued at about $106,000. Truvestments Capital LLC bought a new stake in shares of M.D.C. during the 3rd quarter valued at about $109,000. Sun Life Financial INC bought a new stake in shares of M.D.C. during the 2nd quarter valued at about $140,000. First Hawaiian Bank bought a new stake in shares of M.D.C. during the 3rd quarter valued at about $139,000. Finally, Amalgamated Bank bought a new stake in shares of M.D.C. during the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Shares of NYSE:MDC opened at $27.92 on Friday. The company has a market cap of $1.64 billion, a P/E ratio of 8.72, a P/E/G ratio of 0.41 and a beta of 1.40. The company has a quick ratio of 2.45, a current ratio of 9.55 and a debt-to-equity ratio of 0.70. M.D.C. Holdings, Inc. has a 12-month low of $25.14 and a 12-month high of $36.33.

M.D.C. (NYSE:MDC) last announced its quarterly earnings data on Thursday, November 1st. The construction company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.02). The company had revenue of $766.03 million for the quarter, compared to the consensus estimate of $778.62 million. M.D.C. had a net margin of 6.21% and a return on equity of 12.96%. The company’s revenue was up 30.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. On average, sell-side analysts expect that M.D.C. Holdings, Inc. will post 3.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.30%. M.D.C.’s dividend payout ratio (DPR) is presently 46.51%.

In related news, Director Michael A. Berman sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $32.67, for a total value of $653,400.00. Following the transaction, the director now directly owns 131,867 shares of the company’s stock, valued at approximately $4,308,094.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Larry A. Mizel sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $33.15, for a total value of $331,500.00. Following the completion of the transaction, the chairman now directly owns 121,867 shares in the company, valued at $4,039,891.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $1,637,300. 27.00% of the stock is currently owned by corporate insiders.

A number of research firms have issued reports on MDC. Wedbush boosted their price target on M.D.C. from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday. Zacks Investment Research upgraded M.D.C. from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. ValuEngine upgraded M.D.C. from a “strong sell” rating to a “sell” rating in a research note on Friday, October 26th. Evercore ISI upgraded M.D.C. to an “outperform” rating and cut their price objective for the company from $33.00 to $31.00 in a research note on Thursday, October 25th. They noted that the move was a valuation call. Finally, Bank of America set a $34.00 price objective on M.D.C. and gave the company a “buy” rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.86.

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M.D.C. Profile

M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.

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

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