State of Alaska Department of Revenue lowered its position in shares of M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) by 8.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,439 shares of the construction company’s stock after selling 3,615 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of M.D.C. worth $1,081,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of MDC. JPMorgan Chase & Co. boosted its position in M.D.C. by 74.6% during the first quarter. JPMorgan Chase & Co. now owns 258,677 shares of the construction company’s stock valued at $9,789,000 after acquiring an additional 110,564 shares during the last quarter. Citigroup Inc. raised its holdings in shares of M.D.C. by 0.7% during the first quarter. Citigroup Inc. now owns 84,150 shares of the construction company’s stock valued at $3,184,000 after purchasing an additional 568 shares during the period. D.A. Davidson & CO. raised its holdings in shares of M.D.C. by 21.6% during the first quarter. D.A. Davidson & CO. now owns 6,200 shares of the construction company’s stock valued at $235,000 after purchasing an additional 1,100 shares during the period. MetLife Investment Management LLC raised its holdings in shares of M.D.C. by 57.6% during the first quarter. MetLife Investment Management LLC now owns 30,993 shares of the construction company’s stock valued at $1,173,000 after purchasing an additional 11,325 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of M.D.C. by 14.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,738 shares of the construction company’s stock valued at $1,844,000 after purchasing an additional 6,003 shares during the period. Institutional investors own 82.21% of the company’s stock.
Insiders Place Their Bets
In other M.D.C. news, CEO David D. Mandarich sold 866,029 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $32.47, for a total value of $28,119,961.63. Following the completion of the sale, the chief executive officer now directly owns 5,263,634 shares of the company’s stock, valued at approximately $170,910,195.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.20% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
M.D.C. Trading Up 2.0 %
MDC opened at $34.48 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 8.08 and a quick ratio of 1.80. M.D.C. Holdings, Inc. has a fifty-two week low of $27.04 and a fifty-two week high of $56.29. The firm has a market capitalization of $2.46 billion, a PE ratio of 3.92 and a beta of 1.36. The company’s 50-day moving average is $31.69 and its 200 day moving average is $32.01.
M.D.C. (NYSE:MDC – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The construction company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.26). M.D.C. had a return on equity of 23.05% and a net margin of 11.39%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.40 billion. As a group, research analysts predict that M.D.C. Holdings, Inc. will post 8.14 earnings per share for the current fiscal year.
M.D.C. Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 9th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date was Tuesday, November 8th. M.D.C.’s payout ratio is 22.73%.
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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