Sawtooth Solutions LLC Invests $243,000 in M.D.C. Holdings, Inc. (NYSE:MDC)
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.
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%.
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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