Baltimore Capital Management Inc. purchased a new position in shares of M.D.C. Holdings, Inc. (NYSE:MDC) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 59,324 shares of the construction company’s stock, valued at approximately $1,724,000. M.D.C. comprises about 2.8% of Baltimore Capital Management Inc.’s portfolio, making the stock its 10th largest position.
Other hedge funds have also modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in shares of M.D.C. during the first quarter worth about $56,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in M.D.C. by 25.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,326 shares of the construction company’s stock valued at $93,000 after buying an additional 683 shares during the last quarter. Bank of Montreal Can boosted its position in M.D.C. by 14.1% in the fourth quarter. Bank of Montreal Can now owns 4,908 shares of the construction company’s stock valued at $138,000 after buying an additional 605 shares during the last quarter. Riverhead Capital Management LLC boosted its position in M.D.C. by 7.4% in the first quarter. Riverhead Capital Management LLC now owns 4,806 shares of the construction company’s stock valued at $140,000 after buying an additional 333 shares during the last quarter. Finally, Quantamental Technologies LLC boosted its position in M.D.C. by 2,807.7% in the first quarter. Quantamental Technologies LLC now owns 5,641 shares of the construction company’s stock valued at $164,000 after buying an additional 5,447 shares during the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.
In other M.D.C. news, Chairman Larry A. Mizel sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.46, for a total value of $1,136,100.00. Following the completion of the transaction, the chairman now directly owns 160,958 shares of the company’s stock, valued at $5,224,696.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herbert T. Buchwald sold 30,618 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $32.38, for a total value of $991,410.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,120 shares of company stock worth $4,963,135. 26.30% of the stock is owned by insiders.
A number of equities research analysts recently commented on MDC shares. Wedbush reiterated a “neutral” rating and issued a $30.00 target price on shares of M.D.C. in a research report on Wednesday, May 1st. Zacks Investment Research upgraded M.D.C. from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.40.
Shares of NYSE MDC opened at $33.28 on Thursday. The company has a market capitalization of $2.06 billion, a P/E ratio of 9.07, a PEG ratio of 1.45 and a beta of 1.19. M.D.C. Holdings, Inc. has a 52 week low of $25.14 and a 52 week high of $33.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.19 and a current ratio of 8.58.
M.D.C. (NYSE:MDC) last issued its earnings results on Tuesday, April 30th. The construction company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The firm had revenue of $647.28 million for the quarter, compared to analyst estimates of $597.26 million. M.D.C. had a return on equity of 14.20% and a net margin of 6.90%. M.D.C.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Sell-side analysts predict that M.D.C. Holdings, Inc. will post 3.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th were given a $0.30 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.61%. M.D.C.’s dividend payout ratio is currently 32.70%.
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M.D.C. Company 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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