Brandes Investment Partners LP reduced its stake in M.D.C. Holdings, Inc. (NYSE:MDC) by 24.6% in the 4th quarter, Holdings Channel reports. The firm owned 835,229 shares of the construction company’s stock after selling 272,137 shares during the period. Brandes Investment Partners LP’s holdings in M.D.C. were worth $26,627,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Parsec Financial Management Inc. purchased a new position in shares of M.D.C. in the 4th quarter valued at approximately $203,000. Quantitative Systematic Strategies LLC purchased a new position in shares of M.D.C. in the 4th quarter valued at approximately $260,000. Sawgrass Asset Management LLC purchased a new position in shares of M.D.C. in the 3rd quarter valued at approximately $262,000. Parametrica Management Ltd purchased a new position in shares of M.D.C. in the 3rd quarter valued at approximately $285,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of M.D.C. in the 3rd quarter valued at approximately $306,000. 89.36% of the stock is owned by hedge funds and other institutional investors.
MDC has been the subject of several research analyst reports. ValuEngine lowered shares of M.D.C. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Citigroup decreased their price objective on shares of M.D.C. from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. UBS Group decreased their price objective on shares of M.D.C. from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Monday, November 6th. Zacks Investment Research raised shares of M.D.C. from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a research report on Thursday, February 1st. Finally, Bank of America increased their price objective on shares of M.D.C. from $31.00 to $34.00 and gave the company an “underperform” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.71.
M.D.C. Holdings, Inc. (NYSE:MDC) opened at $29.13 on Tuesday. M.D.C. Holdings, Inc. has a fifty-two week low of $26.73 and a fifty-two week high of $35.18. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.01 and a quick ratio of 3.34. The firm has a market cap of $1,630.00, a P/E ratio of 10.99, a P/E/G ratio of 0.62 and a beta of 1.36.
M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Thursday, February 1st. The construction company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.25). M.D.C. had a return on equity of 11.00% and a net margin of 5.50%. The business had revenue of $704.26 million during the quarter, compared to analyst estimates of $722.48 million. During the same quarter last year, the company posted $0.78 EPS. M.D.C.’s quarterly revenue was down 1.7% compared to the same quarter last year. analysts expect that M.D.C. Holdings, Inc. will post 2.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Tuesday, February 6th. This is an increase from M.D.C.’s previous quarterly dividend of $0.25. M.D.C.’s dividend payout ratio is 45.28%.
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M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.
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