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.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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