Chartwell Investment Partners LLC lowered its stake in M.D.C. Holdings, Inc. (NYSE:MDC) by 2.9% during the second quarter, HoldingsChannel reports. The firm owned 64,121 shares of the construction company’s stock after selling 1,910 shares during the period. Chartwell Investment Partners LLC’s holdings in M.D.C. were worth $1,973,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of M.D.C. by 15.0% in the first quarter. BlackRock Inc. now owns 7,547,743 shares of the construction company’s stock worth $210,731,000 after acquiring an additional 983,355 shares in the last quarter. LSV Asset Management grew its position in M.D.C. by 49.8% during the 2nd quarter. LSV Asset Management now owns 2,220,833 shares of the construction company’s stock worth $68,335,000 after purchasing an additional 737,965 shares in the last quarter. Allianz Asset Management GmbH grew its position in M.D.C. by 7.1% during the 1st quarter. Allianz Asset Management GmbH now owns 992,047 shares of the construction company’s stock worth $27,698,000 after purchasing an additional 65,574 shares in the last quarter. Northern Trust Corp grew its position in M.D.C. by 2.2% during the 1st quarter. Northern Trust Corp now owns 862,854 shares of the construction company’s stock worth $24,090,000 after purchasing an additional 18,716 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in M.D.C. during the 2nd quarter worth approximately $20,821,000. 78.15% of the stock is currently owned by hedge funds and other institutional investors.
MDC has been the topic of a number of research analyst reports. ValuEngine downgraded M.D.C. from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Wedbush lowered their price target on M.D.C. from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, August 2nd. Zelman & Associates upgraded M.D.C. from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Bank of America upgraded M.D.C. from an “underperform” rating to a “buy” rating and lifted their price target for the company from $36.00 to $42.00 in a report on Thursday, August 2nd. Finally, Zacks Investment Research cut M.D.C. from a “buy” rating to a “hold” rating in a research note on Saturday, August 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. M.D.C. currently has a consensus rating of “Hold” and an average target price of $36.14.
In other M.D.C. news, Chairman Larry A. Mizel sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $33.15, for a total value of $331,500.00. Following the transaction, the chairman now owns 121,867 shares in the company, valued at $4,039,891.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Larry A. Mizel sold 20,000 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $32.62, for a total value of $652,400.00. Following the completion of the transaction, the chairman now owns 131,867 shares in the company, valued at approximately $4,301,501.54. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $1,637,300 in the last 90 days. Corporate insiders own 27.00% of the company’s stock.
Shares of MDC opened at $31.39 on Friday. M.D.C. Holdings, Inc. has a 52 week low of $26.45 and a 52 week high of $37.45. The company has a market cap of $1.84 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.47 and a beta of 1.47. The company has a current ratio of 9.59, a quick ratio of 2.49 and a debt-to-equity ratio of 0.72.
M.D.C. (NYSE:MDC) last posted its quarterly earnings results on Wednesday, August 1st. The construction company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.85 by $0.27. M.D.C. had a net margin of 6.91% and a return on equity of 13.82%. The business had revenue of $749.60 million for the quarter, compared to analysts’ expectations of $713.27 million. During the same period in the previous year, the company posted $0.64 EPS. M.D.C.’s revenue was up 15.5% on a year-over-year basis. equities research analysts predict that M.D.C. Holdings, Inc. will post 3.79 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 22nd. Stockholders of record on Wednesday, August 8th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Tuesday, August 7th. M.D.C.’s dividend payout ratio is currently 46.51%.
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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