Diamond Hill Capital Management Inc. Sells 76,928 Shares of Century Communities, Inc. $CCS

Diamond Hill Capital Management Inc. reduced its position in shares of Century Communities, Inc. (NYSE:CCS) by 71.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 30,564 shares of the construction company’s stock after selling 76,928 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Century Communities were worth $1,814,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCS. EverSource Wealth Advisors LLC raised its holdings in Century Communities by 175.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company’s stock valued at $41,000 after buying an additional 465 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Century Communities by 1,513.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company’s stock valued at $81,000 after buying an additional 1,135 shares during the last quarter. State of Wyoming raised its holdings in Century Communities by 37.3% during the 3rd quarter. State of Wyoming now owns 1,644 shares of the construction company’s stock valued at $104,000 after buying an additional 447 shares during the last quarter. Covestor Ltd raised its holdings in Century Communities by 28.8% during the 4th quarter. Covestor Ltd now owns 1,926 shares of the construction company’s stock valued at $114,000 after buying an additional 431 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in Century Communities during the 3rd quarter valued at $119,000. 99.54% of the stock is currently owned by institutional investors.

Century Communities Trading Down 0.8%

NYSE:CCS opened at $52.02 on Friday. The company has a 50-day moving average price of $56.66 and a 200-day moving average price of $61.37. Century Communities, Inc. has a 12 month low of $47.28 and a 12 month high of $76.00. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 11.72 and a beta of 1.37.

Century Communities (NYSE:CCS) last posted its earnings results on Wednesday, April 22nd. The construction company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.61 by $0.27. Century Communities had a net margin of 3.31% and a return on equity of 6.24%. The firm had revenue of $789.67 million during the quarter, compared to analysts’ expectations of $961.12 million. During the same period last year, the company posted $1.36 EPS. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. Equities analysts predict that Century Communities, Inc. will post 3.84 EPS for the current year.

Century Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 27th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, May 27th. Century Communities’s dividend payout ratio (DPR) is currently 28.83%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CCS. JPMorgan Chase & Co. lowered their price target on shares of Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a report on Wednesday, April 29th. Zacks Research lowered shares of Century Communities from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Wall Street Zen lowered shares of Century Communities from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings lowered shares of Century Communities from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Finally, B. Riley Financial lowered shares of Century Communities from a “buy” rating to a “neutral” rating and lowered their price target for the company from $75.00 to $64.00 in a report on Thursday, April 23rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $67.00.

About Century Communities

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.