M.D.C. Holdings Inc. (MDC) Position Reduced by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP reduced its position in shares of M.D.C. Holdings Inc. (NYSE:MDC) by 0.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,160,350 shares of the company’s stock after selling 6,826 shares during the period. Dimensional Fund Advisors LP owned 8.48% of M.D.C. Holdings worth $101,262,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDC. Teacher Retirement System of Texas boosted its stake in M.D.C. Holdings by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,446 shares of the company’s stock worth $133,000 after buying an additional 663 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in M.D.C. Holdings during the second quarter worth $221,000. Societe Generale bought a new stake in M.D.C. Holdings during the second quarter worth $236,000. Legal & General Group Plc boosted its stake in M.D.C. Holdings by 7.3% in the first quarter. Legal & General Group Plc now owns 10,656 shares of the company’s stock worth $265,000 after buying an additional 722 shares during the last quarter. Finally, Capstone Asset Management Co. bought a new stake in M.D.C. Holdings during the second quarter worth $290,000. 79.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of M.D.C. Holdings Inc. (NYSE:MDC) traded down 1.04% during trading on Tuesday, hitting $24.67. 89,567 shares of the stock were exchanged. M.D.C. Holdings Inc. has a 52 week low of $19.28 and a 52 week high of $28.93. The stock’s 50 day moving average price is $25.63 and its 200 day moving average price is $24.75. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 16.45 and a beta of 1.65.
M.D.C. Holdings (NYSE:MDC) last posted its earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. M.D.C. Holdings had a net margin of 3.62% and a return on equity of 6.09%. The business had revenue of $571.20 million for the quarter, compared to analysts’ expectations of $535.12 million. During the same period in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities analysts predict that M.D.C. Holdings Inc. will post $2.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.01%. The ex-dividend date was Monday, August 8th. M.D.C. Holdings’s dividend payout ratio is presently 33.11%.
MDC has been the topic of a number of research reports. Citigroup Inc. boosted their target price on shares of M.D.C. Holdings from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Deutsche Bank AG cut shares of M.D.C. Holdings from a “buy” rating to a “hold” rating and decreased their target price for the stock from $28.00 to $27.00 in a research note on Monday, August 8th. Zacks Investment Research raised shares of M.D.C. Holdings from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a research note on Tuesday, July 19th. Finally, Argus reaffirmed a “hold” rating on shares of M.D.C. Holdings in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. M.D.C. Holdings has an average rating of “Hold” and a consensus target price of $27.25.
About M.D.C. Holdings
M.DC Holdings, Inc is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes.
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