Citigroup Inc. Increases Stock Holdings in M.D.C. Holdings, Inc. (NYSE:MDC)

Citigroup Inc. lifted its holdings in shares of M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) by 20.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 67,857 shares of the construction company’s stock after acquiring an additional 11,497 shares during the period. Citigroup Inc.’s holdings in M.D.C. were worth $2,144,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can increased its stake in M.D.C. by 3.5% during the 4th quarter. Bank of Montreal Can now owns 8,257 shares of the construction company’s stock valued at $262,000 after purchasing an additional 283 shares in the last quarter. SkyOak Wealth LLC raised its stake in M.D.C. by 1.1% in the 4th quarter. SkyOak Wealth LLC now owns 31,155 shares of the construction company’s stock worth $984,000 after acquiring an additional 344 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in M.D.C. by 1.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 21,969 shares of the construction company’s stock valued at $694,000 after purchasing an additional 359 shares during the last quarter. AMG National Trust Bank grew its stake in M.D.C. by 1.2% during the 4th quarter. AMG National Trust Bank now owns 32,399 shares of the construction company’s stock valued at $1,024,000 after purchasing an additional 387 shares during the last quarter. Finally, Lumbard & Kellner LLC increased its holdings in shares of M.D.C. by 0.5% in the first quarter. Lumbard & Kellner LLC now owns 106,585 shares of the construction company’s stock valued at $4,032,000 after purchasing an additional 529 shares during the period. Institutional investors and hedge funds own 82.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MDC shares. StockNews.com started coverage on M.D.C. in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Wedbush reissued a “neutral” rating on shares of M.D.C. in a report on Tuesday, February 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of M.D.C. from $30.50 to $27.50 and set an “underweight” rating for the company in a research report on Monday, March 6th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, M.D.C. currently has a consensus rating of “Hold” and an average target price of $27.50.

M.D.C. Trading Down 0.2 %

Shares of NYSE:MDC opened at $40.28 on Thursday. The company has a market capitalization of $2.95 billion, a PE ratio of 5.99 and a beta of 1.37. M.D.C. Holdings, Inc. has a 12-month low of $27.04 and a 12-month high of $43.66. The business has a 50 day moving average of $39.46 and a two-hundred day moving average of $36.28. The company has a current ratio of 9.12, a quick ratio of 3.43 and a debt-to-equity ratio of 0.52.

M.D.C. (NYSE:MDC – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The construction company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.64. M.D.C. had a net margin of 8.99% and a return on equity of 16.34%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $887.13 million. During the same period in the prior year, the firm posted $2.02 earnings per share. The firm’s quarterly revenue was down 17.8% compared to the same quarter last year. As a group, analysts forecast that M.D.C. Holdings, Inc. will post 3.39 EPS for the current year.

M.D.C. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $2.00 annualized dividend and a dividend yield of 4.97%. M.D.C.’s dividend payout ratio is presently 29.72%.

Insider Buying and Selling

In other news, Director Raymond T. Baker sold 29,160 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $41.24, for a total value of $1,202,558.40. Following the completion of the sale, the director now directly owns 48,526 shares in the company, valued at $2,001,212.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other M.D.C. news, Director Raymond T. Baker sold 29,160 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $41.24, for a total transaction of $1,202,558.40. Following the completion of the sale, the director now directly owns 48,526 shares in the company, valued at approximately $2,001,212.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Herbert T. Buchwald sold 8,349 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $36.20, for a total value of $302,233.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 337,609 shares of company stock valued at $13,923,750. 23.30% of the stock is owned by company insiders.

About M.D.C.

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M.DC Holdings, Inc engages in proving homebuilding and financial services. It operates through the following business segments: West, Mountain, and East. The West segment includes operations in Arizona, California, Nevada, New Mexico, Oregon, Texas, and Washington. The Mountain segment refers to the operations in Colorado, Idaho, and Utah.