Sawtooth Solutions LLC purchased a new position in shares of M.D.C. Holdings, Inc. (NYSE:MDC) in the first quarter, Holdings Channel reports. The fund purchased 8,370 shares of the construction company’s stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in M.D.C. by 26.1% in the third quarter. JPMorgan Chase & Co. now owns 240,131 shares of the construction company’s stock worth $7,103,000 after purchasing an additional 49,732 shares during the last quarter. Bank of Montreal Can grew its holdings in M.D.C. by 14.1% in the fourth quarter. Bank of Montreal Can now owns 4,908 shares of the construction company’s stock worth $138,000 after purchasing an additional 605 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in M.D.C. by 25.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,326 shares of the construction company’s stock worth $93,000 after purchasing an additional 683 shares during the last quarter. Arizona State Retirement System grew its holdings in M.D.C. by 6.5% in the fourth quarter. Arizona State Retirement System now owns 69,749 shares of the construction company’s stock worth $1,961,000 after purchasing an additional 4,253 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in M.D.C. by 59.4% in the fourth quarter. Xact Kapitalforvaltning AB now owns 13,680 shares of the construction company’s stock worth $385,000 after purchasing an additional 5,100 shares during the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.

Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of M.D.C. from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Wedbush reaffirmed a “neutral” rating and issued a $30.00 price target on shares of M.D.C. in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. M.D.C. currently has an average rating of “Hold” and a consensus price target of $32.40.

In related news, Chairman Larry A. Mizel sold 35,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $32.46, for a total transaction of $1,136,100.00. Following the completion of the transaction, the chairman now directly owns 160,958 shares in the company, valued at $5,224,696.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herbert T. Buchwald sold 30,618 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $32.38, for a total transaction of $991,410.84. The disclosure for this sale can be found here. Insiders have sold 154,120 shares of company stock valued at $4,963,135 over the last quarter. Insiders own 26.30% of the company’s stock.

Shares of NYSE:MDC traded up $0.05 on Wednesday, hitting $33.29. 3,619 shares of the company were exchanged, compared to its average volume of 397,050. M.D.C. Holdings, Inc. has a 1-year low of $25.14 and a 1-year high of $33.82. The company has a current ratio of 8.58, a quick ratio of 2.19 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.06 billion, a P/E ratio of 9.15, a PEG ratio of 1.45 and a beta of 1.19.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. M.D.C. had a net margin of 6.90% and a return on equity of 14.20%. The business had revenue of $647.28 million during the quarter, compared to the consensus estimate of $597.26 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that M.D.C. Holdings, Inc. will post 3.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.60%. M.D.C.’s payout ratio is currently 32.70%.

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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.

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

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