Everence Capital Management Inc. purchased a new position in shares of M.D.C. Holdings, Inc. (NYSE:MDC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 19,344 shares of the construction company’s stock, valued at approximately $562,000.
A number of other institutional investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $93,000 after buying an additional 683 shares during the last quarter. Bank of Montreal Can boosted its stake in M.D.C. by 14.1% during 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 period. Quantamental Technologies LLC boosted its stake in M.D.C. by 2,807.7% during 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 period. Meeder Asset Management Inc. bought a new stake in M.D.C. during the fourth quarter valued at $173,000. Finally, 6 Meridian bought a new stake in M.D.C. during the first quarter valued at $207,000. Institutional investors and hedge funds own 70.64% of the company’s stock.
Shares of MDC stock opened at $32.14 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 8.58 and a quick ratio of 2.19. M.D.C. Holdings, Inc. has a 12-month low of $25.14 and a 12-month high of $33.47. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.38 and a beta of 1.33.
M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. M.D.C. had a return on equity of 14.20% and a net margin of 6.90%. The firm had revenue of $647.28 million during the quarter, compared to analyst estimates of $597.26 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that M.D.C. Holdings, Inc. will post 3.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Tuesday, May 14th. M.D.C.’s dividend payout ratio (DPR) is currently 30.25%.
In other M.D.C. news, Director David E. Blackford sold 4,000 shares of M.D.C. stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.51, for a total transaction of $114,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David D. Mandarich sold 35,224 shares of M.D.C. stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.52, for a total value of $1,004,588.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 317,059 shares of company stock valued at $9,571,514. Corporate insiders own 26.30% of the company’s stock.
Several research firms recently issued reports on MDC. Zacks Investment Research lowered M.D.C. from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Wedbush reissued a “neutral” rating and set a $30.00 price objective on shares of M.D.C. in a research note on Wednesday, May 1st. Finally, ValuEngine lowered M.D.C. from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. M.D.C. currently has an average rating of “Hold” and a consensus target price of $32.40.
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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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