Baltimore Capital Management Inc. acquired a new position in M.D.C. Holdings, Inc. (NYSE:MDC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 59,324 shares of the construction company’s stock, valued at approximately $1,724,000. M.D.C. accounts for 2.8% of Baltimore Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. Baltimore Capital Management Inc. owned about 0.10% of M.D.C. at the end of the most recent reporting period.
Several other large investors have also modified their holdings of MDC. Riverhead Capital Management LLC grew its holdings in shares of M.D.C. by 7.4% in the first quarter. Riverhead Capital Management LLC now owns 4,806 shares of the construction company’s stock valued at $140,000 after purchasing an additional 333 shares in the last quarter. Burney Co. grew its holdings in shares of M.D.C. by 6.3% in the first quarter. Burney Co. now owns 266,375 shares of the construction company’s stock valued at $7,741,000 after purchasing an additional 15,718 shares in the last quarter. Trexquant Investment LP bought a new stake in M.D.C. in the first quarter worth $281,000. Tyers Asset Management LLC lifted its position in M.D.C. by 8.1% in the first quarter. Tyers Asset Management LLC now owns 6,864 shares of the construction company’s stock worth $199,000 after buying an additional 512 shares during the last quarter. Finally, Mork Capital Management LLC lifted its position in M.D.C. by 8.0% in the first quarter. Mork Capital Management LLC now owns 29,052 shares of the construction company’s stock worth $844,000 after buying an additional 2,152 shares during the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.
In other news, Director David Siegel sold 27,128 shares of M.D.C. stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $31.94, for a total transaction of $866,468.32. Following the completion of the sale, the director now directly owns 30,618 shares in the company, valued at $977,938.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Nathaniel Martin sold 7,000 shares of M.D.C. stock in a transaction on Friday, May 31st. The stock was sold at an average price of $31.79, for a total value of $222,530.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,120 shares of company stock valued at $4,963,135. 26.30% of the stock is owned by corporate insiders.
A number of analysts recently issued reports on the company. Zacks Investment Research downgraded M.D.C. from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Wedbush restated a “neutral” rating and issued a $30.00 price target on shares of M.D.C. in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $32.40.
Shares of MDC opened at $33.28 on Thursday. The firm has a market capitalization of $2.06 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.45 and a beta of 1.19. M.D.C. Holdings, Inc. has a 52-week low of $25.14 and a 52-week high of $33.82. The company has a quick ratio of 2.19, a current ratio of 8.58 and a debt-to-equity ratio of 0.68.
M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $647.28 million during the quarter, compared to the consensus estimate of $597.26 million. M.D.C. had a return on equity of 14.20% and a net margin of 6.90%. M.D.C.’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. On average, sell-side analysts anticipate that M.D.C. Holdings, Inc. will post 3.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.61%. M.D.C.’s dividend payout ratio is presently 32.70%.
M.D.C. Company 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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