Teacher Retirement System of Texas raised its position in CalAtlantic Group Inc. (NYSE:CAA) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,077 shares of the company’s stock after buying an additional 1,444 shares during the period. Teacher Retirement System of Texas’ holdings in CalAtlantic Group were worth $407,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Bank of Montreal Can purchased a new position in shares of CalAtlantic Group during the second quarter valued at about $113,000. LS Investment Advisors LLC raised its position in shares of CalAtlantic Group by 63.5% in the second quarter. LS Investment Advisors LLC now owns 4,564 shares of the company’s stock valued at $168,000 after buying an additional 1,772 shares during the period. Gray Financial Group GA ADV ADV purchased a new position in shares of CalAtlantic Group during the second quarter valued at about $216,000. Wright Investors Service Inc. purchased a new position in shares of CalAtlantic Group during the second quarter valued at about $238,000. Finally, IBM Retirement Fund purchased a new position in shares of CalAtlantic Group during the second quarter valued at about $277,000.
CalAtlantic Group Inc. (NYSE:CAA) traded down 1.08% on Friday, hitting $33.01. The stock had a trading volume of 1,067,690 shares. The company has a 50-day moving average price of $34.93 and a 200-day moving average price of $35.60. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 13.08 and a beta of 1.59. CalAtlantic Group Inc. has a 52 week low of $26.97 and a 52 week high of $43.24.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.58. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $126.24 million. The business’s revenue for the quarter was up 124.4% on a year-over-year basis. Equities research analysts anticipate that CalAtlantic Group Inc. will post $3.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.48%. The ex-dividend date was Tuesday, September 13th. CalAtlantic Group’s payout ratio is presently 6.40%.
A number of equities research analysts recently commented on the company. RBC Capital Markets reiterated an “outperform” rating and issued a $43.00 price objective (down previously from $48.00) on shares of CalAtlantic Group in a report on Monday, August 1st. Zacks Investment Research downgraded CalAtlantic Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. JMP Securities reiterated a “hold” rating on shares of CalAtlantic Group in a report on Wednesday, June 29th. TheStreet upgraded CalAtlantic Group from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Finally, FBR & Co downgraded CalAtlantic Group from an “outperform” rating to a “marketperform” rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. CalAtlantic Group presently has a consensus rating of “Buy” and a consensus price target of $42.69.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of CalAtlantic Group stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $34.51, for a total transaction of $621,180.00. Following the transaction, the chief marketing officer now directly owns 54,396 shares of the company’s stock, valued at approximately $1,877,205.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 37.80% of the company’s stock.
About CalAtlantic Group
CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.