State of Alaska Department of Revenue raised its holdings in shares of M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) by 9.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,054 shares of the construction company's stock after purchasing an additional 3,605 shares during the period. State of Alaska Department of Revenue owned 0.06% of M.D.C. worth $1,391,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the business. Tompkins Financial Corp acquired a new position in M.D.C. in the first quarter valued at approximately $25,000. Quadrant Capital Group LLC lifted 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 valued at $33,000 after buying an additional 349 shares during the period. Meeder Asset Management Inc. acquired a new position in M.D.C. in the first quarter valued at approximately $42,000. KBC Group NV acquired a new position in M.D.C. in the first quarter valued at approximately $49,000. Finally, CWM LLC raised its holdings in M.D.C. by 756.1% in the first quarter. CWM LLC now owns 1,327 shares of the construction company's stock worth $50,000 after purchasing an additional 1,172 shares during the period. Institutional investors own 73.19% of the company's stock.
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In related news, Director Raymond T. Baker sold 33,067 shares of the firm's stock in a transaction on 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 completion of the transaction, the director now owns 40,187 shares of the company's stock, valued at $1,430,255.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director David Siegel sold 6,500 shares of M.D.C. stock in a transaction dated Monday, August 15th. The shares were 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 accessible through this hyperlink. Also, Director Raymond T. Baker sold 33,067 shares of M.D.C. 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 transaction, the director now directly owns 40,187 shares of the company's stock, valued at approximately $1,430,255.33. The disclosure for this sale can be found here. 24.20% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Wells Fargo & Company lowered 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 report on Friday, June 17th. JPMorgan Chase & Co. cut their target price on shares of M.D.C. from $40.50 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $47.33.M.D.C. Stock Down 2.7 %
Shares of MDC stock opened at $27.69 on Tuesday. The firm has a fifty day moving average of $33.03 and a 200-day moving average of $35.27. The company has a quick ratio of 1.46, a current ratio of 7.31 and a debt-to-equity ratio of 0.58. M.D.C. Holdings, Inc. has a 12-month low of $27.60 and a 12-month high of $56.53. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 3.14 and a beta of 1.39.
M.D.C. (NYSE:MDC – Get Rating) last issued 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 net margin of 11.71% and a return on equity of 24.31%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $2.11 earnings per share. The firm's revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that M.D.C. Holdings, Inc. will post 9.21 earnings per share 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. Investors 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 7.22%. The ex-dividend date was Tuesday, August 9th. M.D.C.'s dividend payout ratio (DPR) is currently 22.70%.
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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