Amalgamated Bank decreased its holdings in M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,091 shares of the construction company's stock after selling 1,364 shares during the quarter. Amalgamated Bank's holdings in M.D.C. were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its holdings in M.D.C. by 65.2% in the first quarter. Quadrant Capital Group LLC now owns 884 shares of the construction company's stock worth $33,000 after purchasing an additional 349 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in M.D.C. by 5.4% in the first quarter. Mutual of America Capital Management LLC now owns 8,146 shares of the construction company's stock worth $308,000 after purchasing an additional 421 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in M.D.C. by 3.7% in the first quarter. Legacy Wealth Asset Management LLC now owns 11,836 shares of the construction company's stock worth $448,000 after purchasing an additional 424 shares in the last quarter. Lumbard & Kellner LLC raised its holdings in M.D.C. by 0.5% in the first quarter. Lumbard & Kellner LLC now owns 106,585 shares of the construction company's stock worth $4,032,000 after purchasing an additional 529 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in M.D.C. by 55.7% in the first quarter. Exchange Traded Concepts LLC now owns 1,549 shares of the construction company's stock worth $59,000 after purchasing an additional 554 shares in the last quarter. Hedge funds and other institutional investors own 73.19% of the company's stock.
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Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Wells Fargo & Company downgraded M.D.C. from an "equal weight" rating to an "underweight" rating and set a $27.00 price objective for the company. in a report on Friday, June 17th. JPMorgan Chase & Co. reduced their price target on M.D.C. from $40.50 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $47.33.
Insiders Place Their Bets
In other M.D.C. news, Director David Siegel sold 6,500 shares of the business's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $35.40, for a total value of $230,100.00. Following the completion of the transaction, the director now owns 16,519 shares of the company's stock, valued at approximately $584,772.60. The sale was disclosed in a legal filing with the SEC, which is available through
this link. In other M.D.C. news, Director David Siegel sold 6,500 shares of the business's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $35.40, for a total transaction of $230,100.00. Following the completion of the sale, the director now directly owns 16,519 shares in the company, valued at approximately $584,772.60. The transaction was disclosed in a filing with the SEC, which is available at
the SEC website. Also, Director Raymond T. Baker sold 33,067 shares of the business's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $35.59, for a total value of $1,176,854.53. Following the sale, the director now owns 40,187 shares of the company's stock, valued at $1,430,255.33. The disclosure for this sale can be found
here. 24.20% of the stock is owned by insiders.
M.D.C. Price Performance
Shares of NYSE:MDC opened at $28.78 on Thursday. M.D.C. Holdings, Inc. has a 1-year low of $27.26 and a 1-year high of $56.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 7.31 and a quick ratio of 1.46. The business has a fifty day moving average price of $32.85 and a 200-day moving average price of $35.22. The company has a market capitalization of $2.05 billion, a PE ratio of 3.27 and a beta of 1.39.
M.D.C. (NYSE:MDC – Get Rating) last issued its earnings results on Thursday, July 28th. The construction company reported $2.59 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.09. M.D.C. had a return on equity of 24.31% and a net margin of 11.71%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm earned $2.11 EPS. M.D.C.'s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that M.D.C. Holdings, Inc. will post 9.21 EPS for the current fiscal year.
M.D.C. Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date was Tuesday, August 9th. M.D.C.'s dividend payout ratio (DPR) is 22.70%.
About M.D.C.
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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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