Pinnacle Holdings LLC increased its holdings in M.D.C. Holdings, Inc. (NYSE:MDC) by 15.9% during the fourth quarter, HoldingsChannel reports. The firm owned 35,090 shares of the construction company’s stock after acquiring an additional 4,823 shares during the quarter. Pinnacle Holdings LLC’s holdings in M.D.C. were worth $1,119,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Parsec Financial Management Inc. purchased a new position in M.D.C. in the 4th quarter worth approximately $203,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of M.D.C. during the 4th quarter worth approximately $260,000. Sawgrass Asset Management LLC purchased a new stake in shares of M.D.C. during the 3rd quarter worth approximately $262,000. Parametrica Management Ltd purchased a new stake in shares of M.D.C. during the 3rd quarter worth approximately $285,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of M.D.C. during the 3rd quarter worth approximately $306,000. 89.36% of the stock is currently owned by institutional investors.
M.D.C. Holdings, Inc. (MDC) opened at $30.10 on Friday. The company has a market capitalization of $1,690.99, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.64 and a beta of 1.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.01 and a quick ratio of 3.34. M.D.C. Holdings, Inc. has a 12-month low of $28.28 and a 12-month high of $37.45.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.99%. This is a boost from M.D.C.’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, February 6th. M.D.C.’s dividend payout ratio is currently 48.10%.
Several analysts have recently issued reports on MDC shares. Bank of America upped their price objective on M.D.C. from $31.00 to $34.00 and gave the stock an “underperform” rating in a report on Friday, February 2nd. ValuEngine cut M.D.C. from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Citigroup decreased their price objective on M.D.C. from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. UBS Group reaffirmed a “sell” rating and set a $32.00 price objective (up from $30.00) on shares of M.D.C. in a report on Wednesday, January 17th. Finally, Raymond James Financial raised M.D.C. from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Tuesday, February 13th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. M.D.C. presently has a consensus rating of “Hold” and an average price target of $33.71.
In other M.D.C. news, Director David Siegel sold 2,500 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $31.83, for a total value of $79,575.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herbert T. Buchwald sold 28,350 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $31.52, for a total value of $893,592.00. The disclosure for this sale can be found here. 25.30% of the stock is currently owned by corporate insiders.
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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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