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

Shares of M.D.C. Holdings, Inc. (NYSE:MDCGet Rating) traded up 2.1% on Friday . The stock traded as high as $29.35 and last traded at $28.99. 15,862 shares traded 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.

Analysts Set New Price Targets

A number of brokerages recently commented on MDC. JPMorgan Chase & Co. decreased their target price on M.D.C. from $40.50 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. Wells Fargo & Company downgraded M.D.C. from an “equal weight” rating to an “underweight” rating and set a $27.00 price target 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 issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, M.D.C. has an average rating of “Hold” and a consensus price target of $47.33.

M.D.C. Trading Up 3.5 %

The company has a market capitalization 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 firm has a fifty day moving average price of $33.84 and a 200-day moving average price of $35.93.

M.D.C. (NYSE:MDCGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The construction company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.50 by $0.09. M.D.C. had a return on equity of 24.31% and a net margin of 11.71%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business earned $2.11 earnings per share. M.D.C.’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that M.D.C. Holdings, Inc. will post 9.32 earnings per share for the current year.

M.D.C. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $2.00 dividend on an annualized basis and a yield of 6.81%. M.D.C.’s payout ratio is 22.70%.

Insider Buying and Selling at M.D.C.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas increased its stake in M.D.C. by 19.7% in the fourth quarter. Teacher Retirement System of Texas now owns 10,816 shares of the construction company’s stock valued at $604,000 after acquiring an additional 1,781 shares during the last quarter. Citigroup Inc. increased its stake in M.D.C. by 4.5% in the fourth quarter. Citigroup Inc. now owns 83,582 shares of the construction company’s stock valued at $4,666,000 after acquiring an additional 3,597 shares during the last quarter. Rhumbline Advisers increased its stake in M.D.C. by 1.2% in the fourth quarter. Rhumbline Advisers now owns 188,761 shares of the construction company’s stock valued at $10,539,000 after acquiring an additional 2,227 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in M.D.C. by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 604,835 shares of the construction company’s stock valued at $33,768,000 after acquiring an additional 27,723 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in M.D.C. by 0.9% in the fourth quarter. Public Sector Pension Investment Board now owns 115,166 shares of the construction company’s stock valued at $6,430,000 after acquiring an additional 1,010 shares during the last quarter. Institutional investors own 73.19% of the company’s stock.

M.D.C. Company Profile

(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.

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