Panagora Asset Management Inc. Raises Holdings in M.D.C. Holdings, Inc. (NYSE:MDC)

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Panagora Asset Management Inc. increased its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 375.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,328 shares of the construction company’s stock after acquiring an additional 36,591 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.07% of M.D.C. worth $1,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in shares of M.D.C. by 124.9% during the second quarter. Bessemer Group Inc. now owns 11,348 shares of the construction company’s stock valued at $372,000 after purchasing an additional 6,303 shares during the period. Burney Co. raised its holdings in M.D.C. by 6.3% during the 1st quarter. Burney Co. now owns 266,375 shares of the construction company’s stock valued at $7,741,000 after buying an additional 15,718 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in M.D.C. by 10.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,944 shares of the construction company’s stock valued at $551,000 after buying an additional 1,720 shares during the last quarter. WBI Investments Inc. purchased a new stake in M.D.C. during the 2nd quarter valued at $2,102,000. Finally, Swiss National Bank boosted its position in M.D.C. by 2.1% during the 2nd quarter. Swiss National Bank now owns 91,058 shares of the construction company’s stock valued at $2,985,000 after buying an additional 1,900 shares during the period. 75.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of M.D.C. stock traded up $0.64 during midday trading on Wednesday, reaching $38.93. 8,297 shares of the company’s stock traded hands, compared to its average volume of 337,954. The stock has a 50 day moving average of $37.09 and a 200-day moving average of $33.00. M.D.C. Holdings, Inc. has a 12 month low of $25.14 and a 12 month high of $39.51. The company has a market cap of $2.45 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.34 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.19 and a current ratio of 9.12.

M.D.C. (NYSE:MDC) last released its quarterly earnings results on Wednesday, July 31st. The construction company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.08. The business had revenue of $732.84 million for the quarter, compared to analysts’ expectations of $727.20 million. M.D.C. had a net margin of 6.64% and a return on equity of 13.24%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. On average, equities analysts anticipate that M.D.C. Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.20 annualized dividend and a dividend yield of 3.08%. M.D.C.’s dividend payout ratio is 32.70%.

In other M.D.C. news, Director Michael A. Berman sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $70.52, for a total transaction of $705,200.00. Following the transaction, the director now owns 148,218 shares in the company, valued at approximately $10,452,333.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herbert T. Buchwald sold 15,618 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $33.51, for a total value of $523,359.18. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $502,650. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,395 shares of company stock valued at $5,194,807. Corporate insiders own 26.30% of the company’s stock.

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of M.D.C. from an “underweight” rating to a “neutral” rating in a research report on Monday, July 8th. ValuEngine lowered shares of M.D.C. from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised M.D.C. from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, July 10th. Finally, Wedbush boosted their price target on M.D.C. from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.80.

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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