M.D.C. (NYSE:MDC) Stock Price Down 3.5%

M.D.C. Holdings, Inc. (NYSE:MDCGet Rating)’s stock price traded down 3.5% during mid-day trading on Friday . The company traded as low as $28.60 and last traded at $28.60. 10,179 shares changed hands during trading, a decline of 98% from the average session volume of 466,985 shares. The stock had previously closed at $29.64.

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on M.D.C. from $49.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, April 13th. Wells Fargo & Company cut M.D.C. from an “equal weight” rating to an “underweight” rating and set a $27.00 price target on the stock. in a research note on Friday. Finally, StockNews.com assumed coverage on M.D.C. in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.67.

The stock has a market capitalization of $2.05 billion, a PE ratio of 3.56 and a beta of 1.34. The business has a 50 day moving average price of $36.80 and a 200 day moving average price of $43.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.20 and a quick ratio of 1.49.

M.D.C. (NYSE:MDCGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The construction company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.12. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. M.D.C. had a return on equity of 24.22% and a net margin of 11.24%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 earnings per share. On average, equities analysts expect that M.D.C. Holdings, Inc. will post 10.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Wednesday, May 11th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date of this dividend was Tuesday, May 10th. M.D.C.’s payout ratio is currently 24.01%.

In other M.D.C. news, Director David E. Blackford sold 3,000 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $38.12, for a total value of $114,360.00. Following the transaction, the director now owns 19,748 shares of the company’s stock, valued at $752,793.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Herbert T. Buchwald sold 9,950 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $37.64, for a total value of $374,518.00. Following the completion of the transaction, the director now directly owns 10 shares in the company, valued at approximately $376.40. The disclosure for this sale can be found here. Corporate insiders own 24.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in shares of M.D.C. by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the construction company’s stock worth $1,530,000 after buying an additional 200 shares during the period. O Shares Investment Advisers LLC raised its stake in shares of M.D.C. by 2.3% in the fourth quarter. O Shares Investment Advisers LLC now owns 9,708 shares of the construction company’s stock worth $542,000 after buying an additional 220 shares during the period. Voya Investment Management LLC raised its stake in shares of M.D.C. by 0.6% in the third quarter. Voya Investment Management LLC now owns 39,132 shares of the construction company’s stock worth $1,828,000 after buying an additional 232 shares during the period. Vestmark Advisory Solutions Inc. grew its position in shares of M.D.C. by 3.0% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 8,372 shares of the construction company’s stock worth $467,000 after purchasing an additional 240 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of M.D.C. by 8.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,696 shares of the construction company’s stock worth $206,000 after purchasing an additional 284 shares in the last quarter. 83.86% of the stock is currently owned by hedge funds and other institutional investors.

M.D.C. Company Profile (NYSE:MDC)

M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.

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