M.D.C. Holdings, Inc. (MDC) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 6.5% during the 4th quarter, HoldingsChannel reports. The firm owned 69,749 shares of the construction company’s stock after acquiring an additional 4,253 shares during the period. Arizona State Retirement System’s holdings in M.D.C. were worth $1,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp raised its position in M.D.C. by 6.9% in the second quarter. Northern Trust Corp now owns 921,981 shares of the construction company’s stock worth $28,369,000 after acquiring an additional 59,127 shares during the period. First Hawaiian Bank bought a new position in M.D.C. in the third quarter worth approximately $139,000. Nisa Investment Advisors LLC raised its position in M.D.C. by 54.6% in the third quarter. Nisa Investment Advisors LLC now owns 53,764 shares of the construction company’s stock worth $1,590,000 after acquiring an additional 18,998 shares during the period. Truvestments Capital LLC bought a new position in M.D.C. in the third quarter worth approximately $109,000. Finally, First Trust Advisors LP raised its position in M.D.C. by 3.3% in the third quarter. First Trust Advisors LP now owns 99,467 shares of the construction company’s stock worth $2,942,000 after acquiring an additional 3,190 shares during the period. Institutional investors own 80.61% of the company’s stock.

Shares of MDC stock opened at $29.14 on Thursday. The firm has a market cap of $1.64 billion, a PE ratio of 7.36, a PEG ratio of 0.50 and a beta of 1.34. M.D.C. Holdings, Inc. has a one year low of $25.14 and a one year high of $33.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.49 and a current ratio of 9.15.

M.D.C. (NYSE:MDC) last announced its quarterly earnings data on Thursday, January 31st. The construction company reported $0.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.19). The firm had revenue of $858.49 million for the quarter, compared to the consensus estimate of $839.29 million. M.D.C. had a net margin of 6.93% and a return on equity of 14.50%. On average, equities analysts forecast that M.D.C. Holdings, Inc. will post 3.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 27th. Stockholders of record on Wednesday, February 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $1.20 annualized dividend and a dividend yield of 4.12%. M.D.C.’s payout ratio is 30.30%.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of M.D.C. from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. ValuEngine downgraded shares of M.D.C. from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Wedbush raised their price objective on shares of M.D.C. from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 12th. Finally, Evercore ISI upgraded shares of M.D.C. to an “outperform” rating and decreased their price objective for the company from $33.00 to $31.00 in a research report on Thursday, October 25th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. M.D.C. presently has an average rating of “Hold” and a consensus target price of $33.86.

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M.D.C. Profile

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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