AQR Capital Management LLC Sells 29,738 Shares of M.D.C. Holdings, Inc. (NYSE:MDC)

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AQR Capital Management LLC trimmed its holdings in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 48.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,638 shares of the construction company’s stock after selling 29,738 shares during the period. AQR Capital Management LLC owned about 0.06% of M.D.C. worth $936,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of M.D.C. by 0.7% during the 3rd quarter. BlackRock Inc. now owns 7,983,118 shares of the construction company’s stock valued at $236,141,000 after acquiring an additional 56,428 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of M.D.C. by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,746,582 shares of the construction company’s stock valued at $140,404,000 after acquiring an additional 21,545 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of M.D.C. by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,165,818 shares of the construction company’s stock valued at $34,486,000 after acquiring an additional 28,974 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of M.D.C. by 6.9% during the 2nd quarter. Northern Trust Corp now owns 921,981 shares of the construction company’s stock valued at $28,369,000 after acquiring an additional 59,127 shares in the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in shares of M.D.C. by 63.5% during the 3rd quarter. Heartland Advisors Inc. now owns 559,995 shares of the construction company’s stock valued at $16,565,000 after acquiring an additional 217,395 shares in the last quarter. 80.61% of the stock is owned by institutional investors and hedge funds.

Shares of MDC stock traded up $0.50 during trading hours on Friday, reaching $28.97. 367,514 shares of the stock traded hands, compared to its average volume of 509,163. M.D.C. Holdings, Inc. has a 1-year low of $25.14 and a 1-year high of $33.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 9.15 and a quick ratio of 2.49. The firm has a market capitalization of $1.77 billion, a P/E ratio of 7.89, a P/E/G ratio of 0.51 and a beta of 1.34.

M.D.C. (NYSE:MDC) last released its quarterly earnings results on Thursday, January 31st. The construction company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.19). M.D.C. had a net margin of 6.93% and a return on equity of 14.50%. The firm had revenue of $858.49 million for the quarter, compared to analyst estimates of $839.29 million. Sell-side analysts predict that M.D.C. Holdings, Inc. will post 3.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 27th. Stockholders of record on Wednesday, February 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.14%. M.D.C.’s dividend payout ratio is currently 30.25%.

Several research firms recently weighed in on MDC. Wedbush lifted their target price on shares of M.D.C. from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 12th. ValuEngine upgraded shares of M.D.C. from a “strong sell” rating to a “sell” rating in a report on Friday, October 26th. Evercore ISI raised shares of M.D.C. to an “outperform” rating and dropped their price target for the stock from $33.00 to $31.00 in a research note on Thursday, October 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of M.D.C. from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target 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.

Further Reading: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Institutional Ownership by Quarter for M.D.C. (NYSE:MDC)

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