Mengis Capital Management Inc. boosted its stake in shares of CalAtlantic Group, Inc. (NYSE:CAA) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,899 shares of the construction company’s stock after buying an additional 150 shares during the period. Mengis Capital Management Inc.’s holdings in CalAtlantic Group were worth $915,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Westpac Banking Corp bought a new position in shares of CalAtlantic Group during the first quarter worth approximately $191,000. LS Investment Advisors LLC increased its position in shares of CalAtlantic Group by 1.4% in the first quarter. LS Investment Advisors LLC now owns 5,236 shares of the construction company’s stock worth $196,000 after buying an additional 72 shares during the last quarter. Paragon Capital Management Ltd bought a new position in shares of CalAtlantic Group during the second quarter worth approximately $256,000. Doyle Wealth Management bought a new position in shares of CalAtlantic Group during the first quarter worth approximately $283,000. Finally, Fox Run Management L.L.C. bought a new position in shares of CalAtlantic Group during the second quarter worth approximately $311,000. Institutional investors and hedge funds own 98.44% of the company’s stock.
CalAtlantic Group, Inc. (NYSE CAA) traded down 2.09% during midday trading on Friday, reaching $34.26. The company’s stock had a trading volume of 726,680 shares. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 9.43 and a beta of 1.45. The company has a 50 day moving average price of $36.14 and a 200 day moving average price of $36.13. CalAtlantic Group, Inc. has a 1-year low of $30.18 and a 1-year high of $38.63.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Thursday, July 27th. The construction company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by $0.03. CalAtlantic Group had a net margin of 7.26% and a return on equity of 11.40%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts expect 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. Shareholders of record on Friday, September 15th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, September 14th. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.46%.
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A number of equities analysts recently commented on the company. Wedbush reiterated an “ourperform” rating and set a $41.00 price objective on shares of CalAtlantic Group in a research report on Monday, July 31st. JMP Securities upgraded CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Friday, July 21st. Barclays PLC upgraded CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock in a research report on Tuesday, July 11th. BidaskClub upgraded CalAtlantic Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, Credit Suisse Group initiated coverage on CalAtlantic Group in a research report on Thursday, June 22nd. They issued an “underperform” rating and a $32.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $39.89.
In other news, CEO Larry T. Nicholson sold 9,004 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.61, for a total transaction of $320,632.44. Following the completion of the sale, the chief executive officer now directly owns 611,733 shares in the company, valued at $21,783,812.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Matlin sold 14,510,008 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were 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. Insiders sold 14,528,112 shares of company stock worth $482,670,158 over the last three months. 39.50% of the stock is currently owned by corporate insiders.
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.
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