Paragon Capital Management Ltd purchased a new position in M.D.C. Holdings, Inc. (NYSE:MDC – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,599 shares of the construction company’s stock, valued at approximately $262,000.
Other hedge funds have also made changes to their positions in the company. Aurora Investment Counsel increased its holdings in M.D.C. by 2.7% in the first quarter. Aurora Investment Counsel now owns 34,815 shares of the construction company’s stock worth $1,353,000 after buying an additional 911 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in M.D.C. by 13.8% in the first quarter. JPMorgan Chase & Co. now owns 154,384 shares of the construction company’s stock worth $6,001,000 after buying an additional 18,735 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in M.D.C. by 11.7% in the first quarter. Mercer Global Advisors Inc. ADV now owns 8,035 shares of the construction company’s stock worth $312,000 after buying an additional 839 shares during the last quarter. Ruggaard & Associates LLC acquired a new position in M.D.C. in the first quarter worth approximately $346,000. Finally, Geode Capital Management LLC increased its holdings in M.D.C. by 6.2% in the first quarter. Geode Capital Management LLC now owns 1,107,447 shares of the construction company’s stock worth $43,046,000 after buying an additional 65,137 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
MDC has been the topic of a number of research reports. Raymond James increased their price objective on M.D.C. from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Wedbush increased their price target on M.D.C. from $28.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, July 31st. StockNews.com started coverage on M.D.C. in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Seaport Res Ptn reiterated a “neutral” rating on shares of M.D.C. in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.17.
Insider Buying and Selling
In related news, Chairman Larry A. Mizel sold 1,322,697 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $44.21, for a total value of $58,476,434.37. Following the completion of the transaction, the chairman now directly owns 115,712 shares of the company’s stock, valued at $5,115,627.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other M.D.C. news, Director David E. Blackford sold 2,771 shares of M.D.C. stock in a transaction on Friday, September 1st. The stock was sold at an average price of $48.04, for a total transaction of $133,118.84. Following the completion of the transaction, the director now directly owns 19,734 shares of the company’s stock, valued at $948,021.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Larry A. Mizel sold 1,322,697 shares of M.D.C. stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $44.21, for a total value of $58,476,434.37. Following the transaction, the chairman now directly owns 115,712 shares of the company’s stock, valued at $5,115,627.52. The disclosure for this sale can be found here. Insiders sold a total of 1,365,941 shares of company stock valued at $60,647,354 over the last ninety days. 23.30% of the stock is owned by company insiders.
M.D.C. Stock Performance
Shares of M.D.C. stock traded down $1.40 during midday trading on Friday, hitting $43.35. The company had a trading volume of 1,444,356 shares, compared to its average volume of 632,028. The business’s 50 day simple moving average is $47.69 and its two-hundred day simple moving average is $43.12. The stock has a market cap of $3.23 billion, a PE ratio of 8.06 and a beta of 1.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 9.07 and a quick ratio of 3.71. M.D.C. Holdings, Inc. has a 1-year low of $27.04 and a 1-year high of $51.94.
M.D.C. (NYSE:MDC – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.55. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $939.10 million. M.D.C. had a net margin of 7.74% and a return on equity of 12.80%. M.D.C.’s quarterly revenue was down 23.9% on a year-over-year basis. During the same quarter last year, the company posted $2.59 earnings per share. As a group, equities analysts predict that M.D.C. Holdings, Inc. will post 4.79 EPS for the current fiscal year.
M.D.C. Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a $0.55 dividend. This is a boost from M.D.C.’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a yield of 5.07%. The ex-dividend date was Tuesday, August 8th. M.D.C.’s dividend payout ratio (DPR) is 40.89%.
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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