ClariVest Asset Management LLC Increases Position in CalAtlantic Group, Inc. (CAA)
ClariVest Asset Management LLC boosted its position in shares of CalAtlantic Group, Inc. (NYSE:CAA) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,820 shares of the industrial goods maker’s stock after buying an additional 3,100 shares during the quarter. ClariVest Asset Management LLC owned 0.09% of CalAtlantic Group worth $3,510,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Thompson Davis & CO. Inc. bought a new position in CalAtlantic Group during the second quarter valued at about $138,000. Canada Pension Plan Investment Board bought a new position in CalAtlantic Group during the second quarter valued at about $154,000. Riverhead Capital Management LLC boosted its stake in CalAtlantic Group by 71.4% during the second quarter. Riverhead Capital Management LLC now owns 4,387 shares of the industrial goods maker’s stock valued at $155,000 after buying an additional 1,827 shares in the last quarter. LS Investment Advisors LLC boosted its stake in CalAtlantic Group by 16.4% during the second quarter. LS Investment Advisors LLC now owns 6,095 shares of the industrial goods maker’s stock valued at $215,000 after buying an additional 859 shares in the last quarter. Finally, Sciencast Management LP acquired a new position in shares of CalAtlantic Group in the 2nd quarter valued at $222,000.
Shares of CalAtlantic Group, Inc. (NYSE:CAA) traded up $0.70 during mid-day trading on Monday, reaching $52.31. The company had a trading volume of 3,336,500 shares, compared to its average volume of 1,274,030. The company has a current ratio of 5.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.80. The firm has a market cap of $5,771.60, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.54. CalAtlantic Group, Inc. has a twelve month low of $31.99 and a twelve month high of $52.73.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a net margin of 6.85% and a return on equity of 10.35%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the firm earned $0.97 EPS. CalAtlantic Group’s quarterly revenue was down 9.0% compared to the same quarter last year. research analysts anticipate that CalAtlantic Group, Inc. will post 3.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 30th. Shareholders of record on Friday, December 15th will be given a $0.04 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.16 annualized dividend and a yield of 0.31%. CalAtlantic Group’s payout ratio is 4.75%.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 100,000 shares of CalAtlantic Group stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $51.94, for a total value of $5,194,000.00. Following the completion of the transaction, the chief executive officer now owns 714,691 shares in the company, valued at approximately $37,121,050.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Larry T. Nicholson sold 17,033 shares of CalAtlantic Group stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $36.00, for a total value of $613,188.00. Following the completion of the transaction, the chief executive officer now owns 594,600 shares of the company’s stock, valued at approximately $21,405,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,897 shares of company stock valued at $7,244,983. Corporate insiders own 39.50% of the company’s stock.
Several equities research analysts recently issued reports on CAA shares. ValuEngine downgraded CalAtlantic Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of CalAtlantic Group in a research note on Friday, August 25th. Mizuho set a $51.00 price objective on CalAtlantic Group and gave the company a “buy” rating in a research note on Wednesday, November 1st. UBS AG raised their target price on CalAtlantic Group from $42.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Finally, Barclays PLC raised their target price on CalAtlantic Group from $35.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.33.
About CalAtlantic Group
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