BNP Paribas Arbitrage SA lowered its position in shares of M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) by 33.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,522 shares of the construction company’s stock after selling 49,285 shares during the period. BNP Paribas Arbitrage SA owned 0.14% of M.D.C. worth $5,556,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Natixis Advisors L.P. acquired a new position in shares of M.D.C. during the fourth quarter worth $614,000. M&T Bank Corp grew its stake in shares of M.D.C. by 18.7% during the fourth quarter. M&T Bank Corp now owns 11,930 shares of the construction company’s stock worth $665,000 after purchasing an additional 1,881 shares in the last quarter. Verity Asset Management Inc. grew its stake in shares of M.D.C. by 12.6% during the fourth quarter. Verity Asset Management Inc. now owns 18,290 shares of the construction company’s stock worth $1,021,000 after purchasing an additional 2,047 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of M.D.C. by 2.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 22,542 shares of the construction company’s stock worth $1,259,000 after purchasing an additional 463 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of M.D.C. during the fourth quarter worth $2,379,000. Hedge funds and other institutional investors own 83.86% of the company’s stock.
In related news, Director David E. Blackford sold 3,000 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $38.12, for a total transaction of $114,360.00. Following the completion of the transaction, the director now directly owns 19,748 shares of the company’s stock, valued at $752,793.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 24.20% of the company’s stock.
M.D.C. (NYSE:MDC – Get Rating) last announced its earnings results on Thursday, April 28th. The construction company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.11. M.D.C. had a net margin of 11.24% and a return on equity of 24.22%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company earned $1.51 earnings per share. The business’s revenue was up 19.1% compared to the same quarter last year. As a group, research analysts forecast that M.D.C. Holdings, Inc. will post 10.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Wednesday, May 11th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, May 10th. This represents a $2.00 annualized dividend and a yield of 5.39%. M.D.C.’s dividend payout ratio is currently 24.01%.
Several research firms have issued reports on MDC. Zacks Investment Research upgraded shares of M.D.C. from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Friday, February 4th. Wedbush restated a “neutral” rating on shares of M.D.C. in a research note on Tuesday, February 1st. StockNews.com began coverage on shares of M.D.C. in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of M.D.C. from $49.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, April 13th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $55.67.
M.D.C. Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on M.D.C. (MDC)
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