Investment Management of Virginia LLC Raises Stake in M.D.C. Holdings, Inc. (MDC)

Investment Management of Virginia LLC grew its holdings in M.D.C. Holdings, Inc. (NYSE:MDC) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 172,448 shares of the construction company’s stock after buying an additional 7,863 shares during the period. M.D.C. comprises about 1.3% of Investment Management of Virginia LLC’s portfolio, making the stock its 23rd biggest holding. Investment Management of Virginia LLC’s holdings in M.D.C. were worth $5,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC acquired a new position in shares of M.D.C. in the 2nd quarter valued at about $930,000. UBS Asset Management Americas Inc. increased its holdings in shares of M.D.C. by 23.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,746 shares of the construction company’s stock valued at $804,000 after purchasing an additional 4,346 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of M.D.C. in the 3rd quarter valued at about $571,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of M.D.C. by 41.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 19,689 shares of the construction company’s stock valued at $654,000 after purchasing an additional 5,730 shares during the period. Finally, Belpointe Asset Management LLC acquired a new position in shares of M.D.C. in the 3rd quarter valued at about $345,000. Institutional investors own 73.38% of the company’s stock.

In other M.D.C. news, Director Herbert T. Buchwald sold 28,350 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $31.52, for a total transaction of $893,592.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Siegel sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $31.83, for a total value of $79,575.00. The disclosure for this sale can be found here. 25.30% of the stock is owned by corporate insiders.

Shares of M.D.C. Holdings, Inc. (MDC) opened at $30.31 on Thursday. The company has a market capitalization of $1,706.71, a P/E ratio of 11.45, a P/E/G ratio of 0.70 and a beta of 1.34. M.D.C. Holdings, Inc. has a 12 month low of $26.56 and a 12 month high of $37.45. The company has a quick ratio of 3.34, a current ratio of 10.01 and a debt-to-equity ratio of 0.78.

M.D.C. (NYSE:MDC) last announced its earnings results on Thursday, February 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.25). The company had revenue of $704.26 million for the quarter, compared to the consensus estimate of $722.48 million. M.D.C. had a return on equity of 11.00% and a net margin of 5.50%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 EPS. research analysts expect that M.D.C. Holdings, Inc. will post 2.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.20 dividend on an annualized basis and a yield of 3.96%. This is a boost from M.D.C.’s previous quarterly dividend of $0.25. M.D.C.’s dividend payout ratio is presently 48.10%.

A number of brokerages have recently weighed in on MDC. Bank of America upped their target price on M.D.C. from $31.00 to $34.00 and gave the company an “underperform” rating in a report on Friday, February 2nd. Zacks Investment Research raised M.D.C. from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a research note on Thursday, February 1st. UBS Group lowered their price target on M.D.C. from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Monday, November 6th. Citigroup lowered their price target on M.D.C. from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Finally, ValuEngine cut M.D.C. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.50.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.com-unik.info/2018/02/08/investment-management-of-virginia-llc-raises-stake-in-m-d-c-holdings-inc-mdc.html.

About M.D.C.

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.

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)

Receive News & Ratings for M.D.C. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M.D.C. and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit