M.D.C. (NYSE:MDC) Downgraded to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of M.D.C. (NYSE:MDCGet Rating) from a neutral rating to an underweight rating in a research report released on Tuesday, The Fly reports. They currently have $28.00 target price on the construction company’s stock, up from their previous target price of $27.00.

MDC has been the topic of a number of other research reports. Raymond James lowered shares of M.D.C. from a strong-buy rating to a market perform rating in a report on Friday, October 21st. Wedbush cut their price objective on shares of M.D.C. to $28.00 in a report on Friday, November 4th. Finally, StockNews.com assumed coverage on shares of M.D.C. in a report on Wednesday, October 12th. They issued a hold rating on the stock. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Reduce and a consensus target price of $27.67.

M.D.C. Stock Performance

Shares of MDC stock opened at $31.61 on Tuesday. M.D.C. has a 12 month low of $27.04 and a 12 month high of $56.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 8.08 and a quick ratio of 1.80. The firm has a market capitalization of $2.25 billion, a P/E ratio of 3.59 and a beta of 1.37. The company’s fifty day moving average price is $29.73 and its two-hundred day moving average price is $32.77.

M.D.C. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 9th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.33%. The ex-dividend date is Tuesday, November 8th. M.D.C.’s payout ratio is currently 22.73%.

Insider Transactions at M.D.C.

In other news, CEO David D. Mandarich sold 866,029 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $32.47, for a total value of $28,119,961.63. Following the completion of the sale, the chief executive officer now owns 5,263,634 shares of the company’s stock, valued at approximately $170,910,195.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.20% of the company’s stock.

Institutional Investors Weigh In On M.D.C.

A number of institutional investors have recently modified their holdings of MDC. Tompkins Financial Corp bought a new stake in shares of M.D.C. during the 1st quarter valued at about $25,000. CWM LLC grew its position in M.D.C. by 70.3% in the 3rd quarter. CWM LLC now owns 901 shares of the construction company’s stock worth $25,000 after purchasing an additional 372 shares during the last quarter. Fifth Third Bancorp grew its position in M.D.C. by 94.0% in the 2nd quarter. Fifth Third Bancorp now owns 838 shares of the construction company’s stock worth $27,000 after purchasing an additional 406 shares during the last quarter. Quadrant Capital Group LLC grew its position in M.D.C. by 65.2% in the 1st quarter. Quadrant Capital Group LLC now owns 884 shares of the construction company’s stock worth $33,000 after purchasing an additional 349 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in M.D.C. in the 1st quarter worth about $42,000. 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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