Diamond Hill Capital Management LLC Investment Advisor Makes New Investment in Century Communities, Inc. $CCS

Key Points

• Diamond Hill Capital Management initiated a position of 60,703 Century Communities shares worth approximately $4.35 million, while institutional investors collectively own 99.54% of the company.
• Century Communities reported quarterly EPS of $1.30, beating analyst expectations of $0.63, and revenue of $927.23 million; however, revenue declined 8.1% year over year.
• The company declared a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 1.8% yield. Analysts’ consensus rating is Hold, with an average price target of $67 versus a reported share price of $70.32.

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Century Communities, Inc. (NYSE:CCS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 60,703 shares of the construction company's stock, valued at approximately $4,350,000. Diamond Hill Capital Management LLC Investment Advisor owned approximately 0.21% of Century Communities at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in shares of Century Communities by 207.6% in the 4th quarter. Parallel Advisors LLC now owns 609 shares of the construction company's stock worth $36,000 after purchasing an additional 411 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Century Communities by 175.5% during the second quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company's stock worth $41,000 after buying an additional 465 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Century Communities during the fourth quarter worth approximately $70,000. Meeder Asset Management Inc. acquired a new position in Century Communities in the first quarter worth approximately $81,000. Finally, Jones Financial Companies Lllp grew its position in Century Communities by 1,513.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company's stock worth $81,000 after buying an additional 1,135 shares during the last quarter. Institutional investors and hedge funds own 99.54% of the company's stock.

Century Communities Stock Performance

Shares of CCS stock opened at $70.32 on Tuesday. Century Communities, Inc. has a 1-year low of $47.28 and a 1-year high of $76.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 15.42 and a beta of 1.30. The stock's fifty day simple moving average is $66.80 and its 200-day simple moving average is $62.42.

Century Communities (NYSE:CCS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The construction company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.67. Century Communities had a return on equity of 6.06% and a net margin of 3.41%.The firm had revenue of $927.23 million during the quarter, compared to analyst estimates of $857.23 million. The business's quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the company posted $1.37 EPS. On average, sell-side analysts predict that Century Communities, Inc. will post 4.86 earnings per share for the current fiscal year.

Century Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, August 26th. Century Communities's dividend payout ratio is currently 28.07%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CCS. Wall Street Zen upgraded Century Communities from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Weiss Ratings upgraded Century Communities from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. Zacks Research raised Century Communities from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. B. Riley Financial lowered Century Communities from a "buy" rating to a "neutral" rating and decreased their price target for the company from $75.00 to $64.00 in a research report on Thursday, April 23rd. Finally, Zelman & Associates cut Century Communities from a "neutral" rating to an "underperform" rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $67.00.

Century Communities Profile

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.

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