TD Asset Management Inc lessened its holdings in M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) by 50.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,334 shares of the construction company’s stock after selling 29,400 shares during the quarter. TD Asset Management Inc’s holdings in M.D.C. were worth $895,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in M.D.C. in the fourth quarter valued at $13,721,000. Dimensional Fund Advisors LP lifted its stake in M.D.C. by 5.4% in the third quarter. Dimensional Fund Advisors LP now owns 4,807,068 shares of the construction company’s stock valued at $131,813,000 after buying an additional 247,697 shares during the last quarter. Advisors Capital Management LLC bought a new stake in M.D.C. in the third quarter valued at $6,670,000. River Road Asset Management LLC bought a new stake in M.D.C. in the third quarter valued at $4,391,000. Finally, Invesco Ltd. raised its stake in shares of M.D.C. by 69.5% during the first quarter. Invesco Ltd. now owns 371,508 shares of the construction company’s stock valued at $14,057,000 after purchasing an additional 152,388 shares in the last quarter. Institutional investors and hedge funds own 82.21% of the company’s stock.
M.D.C. Stock Performance
MDC opened at $41.14 on Thursday. M.D.C. Holdings, Inc. has a 12-month low of $27.04 and a 12-month high of $42.67. The firm has a market capitalization of $3.01 billion, a P/E ratio of 6.11 and a beta of 1.37. The stock’s 50 day moving average price is $38.28 and its two-hundred day moving average price is $35.45. The company has a quick ratio of 3.43, a current ratio of 9.12 and a debt-to-equity ratio of 0.52.
M.D.C. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, May 9th. This represents a $2.00 annualized dividend and a dividend yield of 4.86%. M.D.C.’s dividend payout ratio is currently 29.72%.
Insider Transactions at M.D.C.
In related news, Director Herbert T. Buchwald sold 8,349 shares of M.D.C. stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $36.20, for a total transaction of $302,233.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other M.D.C. news, Director David E. Blackford sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $36.67, for a total transaction of $165,015.00. Following the completion of the sale, the director now directly owns 20,587 shares of the company’s stock, valued at approximately $754,925.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herbert T. Buchwald sold 8,349 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $36.20, for a total value of $302,233.80. The disclosure for this sale can be found here. Insiders sold 337,609 shares of company stock valued at $13,923,750 over the last three months. Company insiders own 23.30% of the company’s stock.
Analyst Upgrades and Downgrades
MDC has been the topic of several recent analyst reports. Wedbush reissued a “neutral” rating on shares of M.D.C. in a report on Tuesday, February 7th. StockNews.com began coverage on M.D.C. in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of M.D.C. from $30.50 to $27.50 and set an “underweight” rating for the company in a report on Monday, March 6th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.50.
M.D.C. Profile
M.DC Holdings, Inc engages in proving homebuilding and financial services. It operates through the following business segments: West, Mountain, and East. The West segment includes operations in Arizona, California, Nevada, New Mexico, Oregon, Texas, and Washington. The Mountain segment refers to the operations in Colorado, Idaho, and Utah.
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