M.D.C. (NYSE:MDC) Trading 2.1% Higher

M.D.C. Holdings, Inc. (NYSE:MDCGet Rating) shares traded up 2.1% during trading on Friday . The stock traded as high as $29.35 and last traded at $28.99. 15,862 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 463,982 shares. The stock had previously closed at $28.40.

Wall Street Analyst Weigh In

MDC has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of M.D.C. from $40.50 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. Wells Fargo & Company downgraded shares of M.D.C. from an “equal weight” rating to an “underweight” rating and set a $27.00 target price for the company. in a research note on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.33.

M.D.C. Stock Up 3.5 %

The company has a market cap of $2.09 billion, a P/E ratio of 3.33 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 7.31 and a quick ratio of 1.46. The company’s 50-day moving average is $33.84 and its two-hundred day moving average is $35.93.

M.D.C. (NYSE:MDCGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The construction company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.09. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. M.D.C. had a net margin of 11.71% and a return on equity of 24.31%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.11 earnings per share. As a group, equities analysts predict that M.D.C. Holdings, Inc. will post 9.32 earnings per share for the current fiscal year.

M.D.C. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend was Tuesday, August 9th. M.D.C.’s dividend payout ratio (DPR) is currently 22.70%.

Insider Activity at M.D.C.

In other M.D.C. news, Director David Siegel sold 6,500 shares of M.D.C. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $35.40, for a total value of $230,100.00. Following the completion of the sale, the director now owns 16,519 shares of the company’s stock, valued at approximately $584,772.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other M.D.C. news, Director David Siegel sold 6,500 shares of M.D.C. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $35.40, for a total value of $230,100.00. Following the completion of the sale, the director now owns 16,519 shares of the company’s stock, valued at approximately $584,772.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Raymond T. Baker sold 33,067 shares of M.D.C. stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $35.59, for a total transaction of $1,176,854.53. Following the completion of the sale, the director now directly owns 40,187 shares of the company’s stock, valued at approximately $1,430,255.33. The disclosure for this sale can be found here. 24.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MDC. Teacher Retirement System of Texas boosted its stake in shares of M.D.C. by 19.7% during the 4th quarter. Teacher Retirement System of Texas now owns 10,816 shares of the construction company’s stock worth $604,000 after acquiring an additional 1,781 shares during the last quarter. Citigroup Inc. boosted its stake in shares of M.D.C. by 4.5% during the 4th quarter. Citigroup Inc. now owns 83,582 shares of the construction company’s stock worth $4,666,000 after acquiring an additional 3,597 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of M.D.C. by 1.2% during the 4th quarter. Rhumbline Advisers now owns 188,761 shares of the construction company’s stock worth $10,539,000 after acquiring an additional 2,227 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of M.D.C. by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 604,835 shares of the construction company’s stock worth $33,768,000 after acquiring an additional 27,723 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of M.D.C. by 0.9% during the 4th quarter. Public Sector Pension Investment Board now owns 115,166 shares of the construction company’s stock worth $6,430,000 after acquiring an additional 1,010 shares during the last quarter. Hedge funds and other institutional investors own 73.19% of the company’s stock.

About M.D.C.

(Get Rating)

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.

Recommended Stories

Receive News & Ratings for M.D.C. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M.D.C. and related companies with MarketBeat.com's FREE daily email newsletter.