Versor Investments LP acquired a new position in shares of M.D.C. Holdings, Inc. (NYSE:MDC – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,734 shares of the construction company’s stock, valued at approximately $339,000.
Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of M.D.C. by 239.9% during the first quarter. Versant Capital Management Inc now owns 1,074 shares of the construction company’s stock worth $42,000 after buying an additional 758 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of M.D.C. during the fourth quarter worth approximately $1,880,000. SummerHaven Investment Management LLC increased its holdings in shares of M.D.C. by 2.0% during the first quarter. SummerHaven Investment Management LLC now owns 22,404 shares of the construction company’s stock worth $871,000 after buying an additional 435 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of M.D.C. by 8.7% during the fourth quarter. Advisors Asset Management Inc. now owns 148,179 shares of the construction company’s stock worth $4,682,000 after buying an additional 11,861 shares in the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of M.D.C. by 19.5% during the fourth quarter. Raymond James Trust N.A. now owns 14,737 shares of the construction company’s stock worth $465,000 after buying an additional 2,406 shares in the last quarter. Institutional investors and hedge funds own 98.19% of the company’s stock.
Insider Transactions at M.D.C.
In other M.D.C. news, Chairman Larry A. Mizel sold 1,322,697 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $44.21, for a total value of $58,476,434.37. Following the completion of the sale, the chairman now directly owns 115,712 shares in the company, valued at $5,115,627.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other M.D.C. news, Chairman Larry A. Mizel sold 1,322,697 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $44.21, for a total value of $58,476,434.37. Following the completion of the sale, the chairman now directly owns 115,712 shares in the company, valued at $5,115,627.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David E. Blackford sold 5,634 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $50.38, for a total transaction of $283,840.92. Following the completion of the sale, the director now owns 14,953 shares of the company’s stock, valued at $753,332.14. The disclosure for this sale can be found here. Insiders sold a total of 1,409,330 shares of company stock worth $62,484,343 over the last three months. 23.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Get Our Latest Report on M.D.C.
M.D.C. Stock Up 1.7 %
Shares of MDC opened at $51.75 on Tuesday. M.D.C. Holdings, Inc. has a 52 week low of $27.04 and a 52 week high of $51.94. The firm has a market cap of $3.86 billion, a P/E ratio of 9.62 and a beta of 1.41. The firm’s 50-day simple moving average is $46.02 and its 200 day simple moving average is $41.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.71 and a current ratio of 9.07.
M.D.C. (NYSE:MDC – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.55. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $939.10 million. M.D.C. had a net margin of 7.74% and a return on equity of 12.80%. The firm’s quarterly revenue was down 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.59 EPS. On average, analysts forecast that M.D.C. Holdings, Inc. will post 4.15 earnings per share for the current year.
M.D.C. Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, August 8th. This is a boost from M.D.C.’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a dividend yield of 4.25%. M.D.C.’s dividend payout ratio is 37.17%.
M.D.C. Profile
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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