CalAtlantic Group Inc (CAA) Stake Lowered by Cambria Investment Management L.P.
Cambria Investment Management L.P. lessened its stake in CalAtlantic Group Inc (NYSE:CAA) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,357 shares of the industrial goods maker’s stock after selling 1,059 shares during the quarter. Cambria Investment Management L.P.’s holdings in CalAtlantic Group were worth $892,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. acquired a new stake in CalAtlantic Group during the 2nd quarter valued at $138,000. Canada Pension Plan Investment Board acquired a new stake in CalAtlantic Group during the 2nd quarter valued at $154,000. Riverhead Capital Management LLC lifted its holdings in CalAtlantic Group by 71.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,387 shares of the industrial goods maker’s stock valued at $155,000 after purchasing an additional 1,827 shares during the last quarter. Sciencast Management LP bought a new position in CalAtlantic Group during the 2nd quarter worth $222,000. Finally, Vantage Financial Partners Ltd. Inc. bought a new position in CalAtlantic Group during the 3rd quarter worth $253,000.
In other news, CEO Larry T. Nicholson sold 17,033 shares of CalAtlantic Group stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total transaction of $613,188.00. Following the sale, the chief executive officer now directly owns 594,600 shares of the company’s stock, valued at $21,405,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Larry T. Nicholson sold 100,000 shares of CalAtlantic Group stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $51.94, for a total value of $5,194,000.00. Following the sale, the chief executive officer now directly owns 714,691 shares in the company, valued at $37,121,050.54. The disclosure for this sale can be found here. Insiders sold 235,239 shares of company stock worth $11,991,615 over the last ninety days. 39.50% of the stock is currently owned by insiders.
Several research analysts have weighed in on CAA shares. ValuEngine cut CalAtlantic Group from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Mizuho cut CalAtlantic Group from a “buy” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a research report on Monday, November 13th. Deutsche Bank cut CalAtlantic Group from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research report on Monday, November 20th. JMP Securities cut CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research report on Monday, October 30th. Finally, UBS started coverage on CalAtlantic Group in a research report on Wednesday, October 25th. They set a “neutral” rating and a $42.00 price objective on the stock. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. CalAtlantic Group currently has a consensus rating of “Hold” and an average target price of $46.11.
Shares of CalAtlantic Group Inc (NYSE CAA) opened at $54.99 on Tuesday. The firm has a market capitalization of $6,112.53, a PE ratio of 16.39, a P/E/G ratio of 1.92 and a beta of 1.58. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.91 and a quick ratio of 0.29. CalAtlantic Group Inc has a 12 month low of $32.47 and a 12 month high of $57.04.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.07). The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.55 billion. CalAtlantic Group had a net margin of 6.85% and a return on equity of 10.35%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.97 earnings per share. equities analysts predict that CalAtlantic Group Inc will post 3.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 30th. Investors of record on Friday, December 15th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.29%. The ex-dividend date is Thursday, December 14th. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.75%.
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About CalAtlantic Group
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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