Victory Capital Management Inc. Acquires 257,590 Shares of M.D.C. Holdings, Inc. (NYSE:MDC)

Victory Capital Management Inc. lifted its holdings in M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) by 222.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,180 shares of the construction company’s stock after acquiring an additional 257,590 shares during the period. Victory Capital Management Inc. owned 0.51% of M.D.C. worth $14,059,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in M.D.C. by 3.5% during the fourth quarter. Bank of Montreal Can now owns 8,257 shares of the construction company’s stock valued at $262,000 after buying an additional 283 shares during the last quarter. SkyOak Wealth LLC boosted its stake in M.D.C. by 1.1% during the fourth quarter. SkyOak Wealth LLC now owns 31,155 shares of the construction company’s stock valued at $984,000 after buying an additional 344 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in M.D.C. by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 21,969 shares of the construction company’s stock valued at $694,000 after buying an additional 359 shares during the last quarter. AMG National Trust Bank boosted its stake in M.D.C. by 1.2% during the fourth quarter. AMG National Trust Bank now owns 32,399 shares of the construction company’s stock valued at $1,024,000 after buying an additional 387 shares during the last quarter. Finally, Lumbard & Kellner LLC boosted its stake in M.D.C. by 0.5% during the first quarter. Lumbard & Kellner LLC now owns 106,585 shares of the construction company’s stock valued at $4,032,000 after buying an additional 529 shares during the last quarter. Institutional investors own 82.21% of the company’s stock.

M.D.C. Price Performance

NYSE:MDC opened at $40.36 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 9.12 and a quick ratio of 3.43. The business has a 50 day simple moving average of $39.38 and a 200-day simple moving average of $36.25. M.D.C. Holdings, Inc. has a 1 year low of $27.04 and a 1 year high of $43.66. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 6.00 and a beta of 1.37.

M.D.C. (NYSE:MDC – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The construction company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.64. M.D.C. had a return on equity of 16.34% and a net margin of 8.99%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $887.13 million. During the same period in the prior year, the business posted $2.02 earnings per share. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. Equities analysts forecast that M.D.C. Holdings, Inc. will post 3.39 EPS for the current year.

M.D.C. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, May 9th. This represents a $2.00 annualized dividend and a yield of 4.96%. M.D.C.’s payout ratio is currently 29.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on M.D.C. from $30.50 to $27.50 and set an “underweight” rating for the company in a research note on Monday, March 6th. StockNews.com began coverage on M.D.C. in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Wedbush reaffirmed a “neutral” rating on shares of M.D.C. in a research note on Tuesday, February 7th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.50.

Insiders Place Their Bets

In other news, Director Herbert T. Buchwald sold 8,349 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $36.20, for a total value of $302,233.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other M.D.C. news, Director David E. Blackford sold 4,500 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $36.67, for a total transaction of $165,015.00. Following the sale, the director now owns 20,587 shares in the company, valued at approximately $754,925.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Herbert T. Buchwald sold 8,349 shares of the business’s stock in a transaction dated 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 have sold 337,609 shares of company stock worth $13,923,750 in the last ninety days. 23.30% of the stock is owned by company insiders.

M.D.C. Profile

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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.