Rothschild Investment Corp IL increased its holdings in shares of M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) by 76.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,800 shares of the construction company's stock after buying an additional 6,000 shares during the quarter. Rothschild Investment Corp IL's holdings in M.D.C. were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDC. Principal Financial Group Inc. boosted its position in shares of M.D.C. by 35.6% in the first quarter. Principal Financial Group Inc. now owns 1,326,146 shares of the construction company's stock worth $50,182,000 after acquiring an additional 348,338 shares during the last quarter. State Street Corp lifted its stake in shares of M.D.C. by 7.7% in the 4th quarter. State Street Corp now owns 2,452,939 shares of the construction company's stock valued at $136,948,000 after purchasing an additional 174,454 shares in the last quarter. Hamlin Capital Management LLC boosted its position in M.D.C. by 9.1% during the 1st quarter. Hamlin Capital Management LLC now owns 2,007,657 shares of the construction company's stock worth $75,970,000 after purchasing an additional 167,279 shares during the period. Invesco Ltd. boosted its position in shares of M.D.C. by 69.5% in the first quarter. Invesco Ltd. now owns 371,508 shares of the construction company's stock worth $14,057,000 after buying an additional 152,388 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of M.D.C. by 68.5% in the first quarter. First Trust Advisors LP now owns 302,779 shares of the construction company's stock valued at $11,457,000 after buying an additional 123,111 shares in the last quarter. Hedge funds and other institutional investors own 73.19% of the company's stock.
Get M.D.C. alerts:M.D.C. Stock Down 1.1 %
Shares of NYSE MDC opened at $29.61 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 7.31. M.D.C. Holdings, Inc. has a 1 year low of $27.83 and a 1 year high of $56.53. The stock's 50-day simple moving average is $33.62 and its 200-day simple moving average is $35.73. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 3.36 and a beta of 1.39.
M.D.C. (NYSE:MDC – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $2.11 EPS. M.D.C.'s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that M.D.C. Holdings, Inc. will post 9.32 earnings per share for the current fiscal year.M.D.C. Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.75%. The ex-dividend date was Tuesday, August 9th. M.D.C.'s payout ratio is currently 22.70%.
Analysts Set New Price Targets
MDC has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on M.D.C. from $40.50 to $38.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 12th. Wells Fargo & Company cut shares of M.D.C. from an "equal weight" rating to an "underweight" rating and set a $27.00 target price on the stock. in a research report on Friday, June 17th. 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $47.33.
Insider Buying and Selling at M.D.C.
In other news, Director David Siegel sold 6,500 shares of M.D.C. stock in a transaction that occurred on 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 in the company, valued at approximately $584,772.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, 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 transaction of $1,176,854.53. Following the completion of the sale, the director now owns 40,187 shares of the company's stock, valued at approximately $1,430,255.33. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Siegel sold 6,500 shares of the firm'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 transaction, the director now directly owns 16,519 shares in the company, valued at approximately $584,772.60. The disclosure for this sale can be found here. 24.20% of the stock is currently owned by insiders.
M.D.C. Company Profile
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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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