ING Groep NV Acquires New Stake in CalAtlantic Group, Inc. (NYSE:CAA)

ING Groep NV purchased a new position in shares of CalAtlantic Group, Inc. (NYSE:CAA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,365 shares of the construction company’s stock, valued at approximately $331,000.

Several other large investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in CalAtlantic Group by 1.4% in the second quarter. Russell Investments Group Ltd. now owns 820,678 shares of the construction company’s stock worth $29,024,000 after buying an additional 11,373 shares during the last quarter. Sadoff Investment Management LLC increased its stake in CalAtlantic Group by 0.9% in the second quarter. Sadoff Investment Management LLC now owns 608,455 shares of the construction company’s stock valued at $21,509,000 after buying an additional 5,600 shares in the last quarter. State Treasurer State of Michigan increased its stake in CalAtlantic Group by 8.2% in the second quarter. State Treasurer State of Michigan now owns 31,700 shares of the construction company’s stock valued at $1,121,000 after buying an additional 2,400 shares in the last quarter. Aperio Group LLC increased its stake in CalAtlantic Group by 42.5% in the second quarter. Aperio Group LLC now owns 25,319 shares of the construction company’s stock valued at $895,000 after buying an additional 7,557 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in CalAtlantic Group by 11.0% in the second quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the construction company’s stock valued at $714,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 98.44% of the company’s stock.

CalAtlantic Group, Inc. (CAA) traded down 2.09% during mid-day trading on Friday, hitting $34.26. 726,680 shares of the stock traded hands. The company has a 50-day moving average of $36.14 and a 200 day moving average of $36.13. CalAtlantic Group, Inc. has a 1-year low of $30.18 and a 1-year high of $38.63. The firm has a market capitalization of $3.78 billion, a P/E ratio of 9.43 and a beta of 1.45.

CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Thursday, July 27th. The construction company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. CalAtlantic Group had a net margin of 7.26% and a return on equity of 11.40%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.83 EPS. On average, equities research analysts anticipate that CalAtlantic Group, Inc. will post $3.47 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Thursday, September 14th. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.46%.

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CAA has been the topic of several recent research reports. BidaskClub downgraded shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Credit Suisse Group initiated coverage on shares of CalAtlantic Group in a research report on Thursday, June 22nd. They set an “underperform” rating and a $32.00 target price on the stock. Zacks Investment Research downgraded shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. ValuEngine upgraded shares of CalAtlantic Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. Finally, Wedbush reiterated an “outperform” rating and set a $41.00 target price on shares of CalAtlantic Group in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. CalAtlantic Group has an average rating of “Hold” and a consensus target price of $39.89.

In related news, CEO Larry T. Nicholson sold 9,004 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.61, for a total value of $320,632.44. Following the completion of the sale, the chief executive officer now owns 611,733 shares of the company’s stock, valued at $21,783,812.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Matlin sold 14,510,008 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $33.22, for a total value of $482,022,465.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,528,112 shares of company stock valued at $482,670,158. Insiders own 39.50% of the company’s stock.

CalAtlantic Group Company Profile

CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.

Institutional Ownership by Quarter for CalAtlantic Group (NYSE:CAA)

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