Zurcher Kantonalbank Zurich Cantonalbank Sells 434 Shares of M.D.C. Holdings, Inc. (MDC)

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Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 13.0% in the 1st quarter, Holdings Channel reports. The fund owned 2,892 shares of the construction company’s stock after selling 434 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in M.D.C. were worth $84,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in shares of M.D.C. by 7,198.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 93,490 shares of the construction company’s stock worth $2,717,000 after buying an additional 92,209 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of M.D.C. by 9.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 45,987 shares of the construction company’s stock worth $1,336,000 after buying an additional 3,900 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of M.D.C. during the 1st quarter worth about $234,000. Smith Graham & Co. Investment Advisors LP boosted its stake in shares of M.D.C. by 6.8% during the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 350,975 shares of the construction company’s stock worth $10,199,000 after buying an additional 22,415 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of M.D.C. by 8.0% during the 1st quarter. Strs Ohio now owns 503,279 shares of the construction company’s stock worth $14,625,000 after buying an additional 37,279 shares during the last quarter. Institutional investors own 74.70% of the company’s stock.

Shares of MDC stock traded up $0.75 on Monday, reaching $32.37. The stock had a trading volume of 321,910 shares, compared to its average volume of 364,647. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.19 and a current ratio of 8.58. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 1.40 and a beta of 1.33. M.D.C. Holdings, Inc. has a 12 month low of $25.14 and a 12 month high of $33.47.

M.D.C. (NYSE:MDC) last issued its earnings results on Tuesday, April 30th. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The company had revenue of $647.28 million for the quarter, compared to analysts’ expectations of $597.26 million. M.D.C. had a net margin of 6.90% and a return on equity of 14.20%. M.D.C.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. Sell-side analysts predict that M.D.C. Holdings, Inc. will post 3.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.71%. M.D.C.’s payout ratio is 32.70%.

MDC has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of M.D.C. from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Wedbush restated a “neutral” rating and set a $30.00 price objective on shares of M.D.C. in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. M.D.C. currently has an average rating of “Hold” and an average price target of $32.40.

In other news, SVP Michael Touff sold 36,741 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $28.84, for a total value of $1,059,610.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO David D. Mandarich sold 35,224 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $28.52, for a total transaction of $1,004,588.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,209 shares of company stock worth $8,721,533. 26.30% of the stock is owned by insiders.

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About M.D.C.

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.

Further Reading: What are retained earnings?

Want to see what other hedge funds are holding MDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M.D.C. Holdings, Inc. (NYSE:MDC).

Institutional Ownership by Quarter for M.D.C. (NYSE:MDC)

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