Mutual of America Capital Management LLC Reduces Stake in Cavco Industries, Inc. $CVCO

Mutual of America Capital Management LLC lowered its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,029 shares of the construction company’s stock after selling 138 shares during the period. Mutual of America Capital Management LLC’s holdings in Cavco Industries were worth $447,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Stephens Inc. AR lifted its position in shares of Cavco Industries by 3.8% during the 1st quarter. Stephens Inc. AR now owns 629 shares of the construction company’s stock valued at $327,000 after buying an additional 23 shares during the last quarter. HighTower Advisors LLC raised its stake in Cavco Industries by 2.6% in the 1st quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company’s stock valued at $816,000 after acquiring an additional 40 shares during the period. Evergreen Capital Management LLC lifted its holdings in Cavco Industries by 7.5% during the first quarter. Evergreen Capital Management LLC now owns 573 shares of the construction company’s stock valued at $298,000 after purchasing an additional 40 shares during the last quarter. Arizona State Retirement System boosted its position in Cavco Industries by 1.9% during the first quarter. Arizona State Retirement System now owns 2,197 shares of the construction company’s stock worth $1,142,000 after purchasing an additional 41 shares during the period. Finally, Sheets Smith Wealth Management boosted its position in Cavco Industries by 2.0% during the second quarter. Sheets Smith Wealth Management now owns 2,214 shares of the construction company’s stock worth $962,000 after purchasing an additional 44 shares during the period. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Down 5.2%

Shares of NASDAQ:CVCO opened at $558.02 on Wednesday. The company has a 50 day moving average of $545.30 and a 200 day moving average of $487.67. The stock has a market cap of $4.42 billion, a P/E ratio of 24.19 and a beta of 1.23. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $602.57.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.61. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The business had revenue of $556.86 million for the quarter, compared to analysts’ expectations of $524.97 million. On average, equities analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wedbush reissued a “neutral” rating and issued a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cavco Industries in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $522.50.

Insider Buying and Selling

In related news, Director Susan L. Blount sold 2,500 shares of Cavco Industries stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the completion of the sale, the director owned 3,126 shares of the company’s stock, valued at approximately $1,623,331.80. This trade represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Bigbee sold 300 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $530.45, for a total value of $159,135.00. Following the transaction, the chief accounting officer owned 774 shares of the company’s stock, valued at approximately $410,568.30. The trade was a 27.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,600 shares of company stock worth $2,820,884. Corporate insiders own 1.60% of the company’s stock.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.