American Century Companies Inc. Buys 388,006 Shares of M.D.C. Holdings, Inc. (NYSE:MDC)

Posted by Defense World Staff on Sep 2nd, 2023

American Century Companies Inc. increased its position in shares of M.D.C. Holdings, Inc. (NYSE:MDC – Free Report) by 2,308.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 404,815 shares of the construction company’s stock after purchasing an additional 388,006 shares during the quarter. American Century Companies Inc. owned 0.55% of M.D.C. worth $15,735,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC bought a new stake in shares of M.D.C. during the 4th quarter worth approximately $263,371,000. Pacer Advisors Inc. raised its position in M.D.C. by 160.0% during the first quarter. Pacer Advisors Inc. now owns 1,129,185 shares of the construction company’s stock valued at $43,891,000 after purchasing an additional 694,962 shares in the last quarter. Millennium Management LLC lifted its stake in M.D.C. by 259.7% during the fourth quarter. Millennium Management LLC now owns 593,177 shares of the construction company’s stock worth $18,744,000 after purchasing an additional 428,286 shares during the last quarter. Norges Bank bought a new stake in M.D.C. during the fourth quarter worth $13,291,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of M.D.C. by 262.9% in the 4th quarter. Victory Capital Management Inc. now owns 419,533 shares of the construction company’s stock valued at $13,257,000 after purchasing an additional 303,943 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at M.D.C.

In other news, CFO Robert Nathaniel Martin sold 19,839 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $49.94, for a total transaction of $990,759.66. Following the completion of the transaction, the chief financial officer now directly owns 299,962 shares in the company, valued at $14,980,102.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director David E. Blackford sold 2,771 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $48.04, for a total value of $133,118.84. Following the transaction, the director now owns 19,734 shares in the company, valued at $948,021.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert Nathaniel Martin sold 19,839 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $49.94, for a total value of $990,759.66. Following the sale, the chief financial officer now owns 299,962 shares of the company’s stock, valued at $14,980,102.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,382,941 shares of company stock worth $61,414,904. Insiders own 23.30% of the company’s stock.

M.D.C. Stock Performance

NYSE:MDC opened at $48.17 on Friday. The stock’s 50-day moving average is $47.82 and its 200-day moving average is $42.54. M.D.C. Holdings, Inc. has a 1-year low of $27.04 and a 1-year high of $51.94. The company has a current ratio of 9.07, a quick ratio of 3.71 and a debt-to-equity ratio of 0.50. The stock has a market cap of $3.59 billion, a P/E ratio of 8.95 and a beta of 1.41.

M.D.C. (NYSE:MDC – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.55. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $939.10 million. M.D.C. had a net margin of 7.74% and a return on equity of 12.80%. The company’s revenue was down 23.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.59 EPS. Equities research analysts anticipate that M.D.C. Holdings, Inc. will post 4.79 earnings per share for the current year.

M.D.C. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This is an increase from M.D.C.’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a yield of 4.57%. M.D.C.’s payout ratio is presently 40.89%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MDC shares. Raymond James upped their price objective on M.D.C. from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. StockNews.com assumed coverage on shares of M.D.C. in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Seaport Res Ptn reiterated a “neutral” rating on shares of M.D.C. in a research report on Wednesday, June 14th. Finally, Wedbush raised their target price on shares of M.D.C. from $28.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.17.

Read Our Latest Research Report on MDC

M.D.C. Profile

(Free Report)

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.