Victory Capital Management Inc. acquires 5,198 shares of MDC Holdings, Inc. (NYSE: MDC)
Victory Capital Management Inc. removed its position in MDC Holdings, Inc. (NYSE: MDC – Get an assessment) by 21.8% in the first quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor held 29,057 shares of the construction company after buying an additional 5,198 shares during the quarter. Victory Capital Management Inc.’s holdings in MDC were worth $1,076,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently changed their holdings in the company. Csenge Advisory Group increased its equity stake in MDC by 6.1% in Q4. Csenge Advisory Group now owns 6,763 shares of the construction company worth $350,000 after buying 391 additional shares last quarter. Mutual of America Capital Management LLC increased its equity stake in MDC by 5.4% in Q1. Mutual of America Capital Management LLC now owns 8,146 shares of the construction company worth $308,000 after buying 421 additional shares in the last quarter. Maryland State Retirement & Pension System increased its holdings of MDC shares by 2.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 22,542 shares of the construction company worth $1,259,000 after buying 463 additional shares last quarter. Exchange Traded Concepts LLC increased its equity stake in MDC by 55.7% in Q1. Exchange Traded Concepts LLC now owns 1,549 shares of the construction company worth $59,000 after buying an additional 554 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in MDC shares by 10.6% in the 4th quarter. Profund Advisors LLC now owns 6,338 shares of the construction company worth $354,000 after buying 609 additional shares in the last quarter. 83.86% of the shares are currently held by hedge funds and other institutional investors.
Insiders place their bets
In other MDC news, Director Raymond T. Baker sold 33,067 shares in a trade that took place on Friday, July 29. The stock was sold at an average price of $35.59, for a total value of $1,176,854.53. Following the completion of the sale, the administrator now owns 40,187 shares of the company, valued at approximately $1,430,255.33. The transaction was disclosed in an SEC filing, available at this link. Insiders of the company hold 24.20% of the shares of the company.
Analyst upgrades and downgrades
MDC has been the subject of several analyst reports. JPMorgan Chase & Co. lowered its target price on MDC from $40.50 to $38.00 and set a “neutral” rating for the company in a Tuesday, July 12 report. Wells Fargo & Company downgraded MDC from an “equal weight” rating to an “underweight” rating and set a target price of $27.00 for the company. in a report on Friday, June 17. One analyst rated the stock with a sell rating, three issued a hold rating and one issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.33.
MDC trades down 0.8%
NYSE MDC opened at $35.68 on Tuesday. MDC Holdings, Inc. has a fifty-two week low of $27.83 and a fifty-two week high of $56.53. The company has a debt ratio of 0.58, a quick ratio of 1.46 and a current ratio of 7.31. The stock has a 50-day simple moving average of $34.23 and a two-hundred-day simple moving average of $37.99. The stock has a market capitalization of $2.54 billion, a P/E ratio of 4.05 and a beta of 1.37.
CDM (NYSE: MDC – Get an assessment) last released its quarterly earnings data on Thursday, July 28. The construction company reported earnings per share of $2.59 for the quarter, beating the consensus estimate of $2.50 by $0.09. MDC had a return on equity of 24.31% and a net margin of 11.71%. The company posted revenue of $1.45 billion in the quarter, compared to $1.43 billion expected by analysts. In the same quarter last year, the company posted EPS of $2.11. The company’s revenue increased 6.1% year over year. On average, analysts expect MDC Holdings, Inc. to post earnings per share of 9.64 for the current year.
MDC announces dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24. Shareholders of record on Wednesday, August 10 will receive a dividend of $0.50. This represents an annualized dividend of $2.00 and a yield of 5.61%. The ex-dividend date is Tuesday, August 9. MDC’s dividend payout ratio (DPR) is currently 22.70%.
MDC Company Profile
M.DC Holdings, Inc, through its subsidiaries, is engaged in residential construction and financial services. Its home construction business includes the purchase of finished land or the development of land for construction and the sale primarily of single family detached homes to first time home buyers and first movers under the Richmond American Homes name.
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