Cornercap Investment Counsel Inc. raised its position in M.D.C. Holdings, Inc. (NYSE:MDC) by 17.9% in the 4th quarter, HoldingsChannel reports. The fund owned 25,563 shares of the construction company’s stock after acquiring an additional 3,879 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in M.D.C. were worth $815,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Alpha Windward LLC grew its position in M.D.C. by 11.6% in the 4th quarter. Alpha Windward LLC now owns 16,200 shares of the construction company’s stock valued at $516,000 after acquiring an additional 1,680 shares in the last quarter. American International Group Inc. grew its position in M.D.C. by 5.9% in the 3rd quarter. American International Group Inc. now owns 32,936 shares of the construction company’s stock valued at $1,094,000 after acquiring an additional 1,825 shares in the last quarter. New York State Common Retirement Fund grew its position in M.D.C. by 4.3% in the 3rd quarter. New York State Common Retirement Fund now owns 46,104 shares of the construction company’s stock valued at $1,531,000 after acquiring an additional 1,900 shares in the last quarter. Capital Fund Management S.A. grew its position in M.D.C. by 10.8% in the 4th quarter. Capital Fund Management S.A. now owns 20,600 shares of the construction company’s stock valued at $657,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Aperio Group LLC grew its position in M.D.C. by 7.8% in the 4th quarter. Aperio Group LLC now owns 29,270 shares of the construction company’s stock valued at $933,000 after acquiring an additional 2,122 shares in the last quarter. 94.24% of the stock is owned by institutional investors.
MDC has been the subject of several research reports. Bank of America lifted their target price on M.D.C. from $31.00 to $34.00 and gave the company an “underperform” rating in a research report on Friday, February 2nd. ValuEngine downgraded M.D.C. from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. UBS Group reaffirmed a “sell” rating and issued a $32.00 target price (up from $30.00) on shares of M.D.C. in a research report on Wednesday, January 17th. Raymond James Financial raised M.D.C. from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Tuesday, February 13th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded M.D.C. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $33.71.
M.D.C. Holdings, Inc. (MDC) opened at $28.29 on Tuesday. M.D.C. Holdings, Inc. has a 52-week low of $26.94 and a 52-week high of $37.45. The company has a market capitalization of $1,581.55, a PE ratio of 11.34, a PEG ratio of 0.60 and a beta of 1.47. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.34 and a current ratio of 10.01.
M.D.C. (NYSE:MDC) last announced its quarterly earnings data on Thursday, February 1st. The construction company reported $0.43 EPS for the quarter, missing the Zacks’ 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 company had revenue of $704.26 million for the quarter, compared to analyst estimates of $722.48 million. During the same period in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. research analysts predict that M.D.C. Holdings, Inc. will post 2.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th were given a dividend of $0.30 per share. 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.24%. M.D.C.’s payout ratio is currently 48.10%.
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M.D.C. Company Profile
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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