M.D.C. (MDC) Trading Down 5.2%
Shares of M.D.C. Holdings, Inc. (NYSE:MDC) dropped 5.2% on Thursday . The company traded as low as $28.73 and last traded at $28.74. Approximately 1,259,556 shares were traded during mid-day trading, an increase of 63% from the average daily volume of 774,039 shares. The stock had previously closed at $30.31.
MDC has been the topic of a number of analyst reports. ValuEngine downgraded M.D.C. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. UBS Group initiated coverage on M.D.C. in a research note on Wednesday, October 25th. They issued a “sell” rating and a $34.00 price target on the stock. Citigroup decreased their price target on M.D.C. from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Zacks Investment Research upgraded M.D.C. from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research note on Thursday, February 1st. Finally, Bank of America lifted their price target on M.D.C. from $31.00 to $34.00 and gave the company an “underperform” rating in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.50.
The company has a current ratio of 10.01, a quick ratio of 3.34 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1,700.00, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 0.65 and a beta of 1.36.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.07%. This is an increase from M.D.C.’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, February 6th. M.D.C.’s payout ratio is presently 48.39%.
In other M.D.C. news, Director Herbert T. Buchwald sold 28,350 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $31.52, for a total transaction of $893,592.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David Siegel sold 2,500 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $31.83, for a total value of $79,575.00. The disclosure for this sale can be found here. 25.30% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in M.D.C. by 11.2% during the fourth quarter. BlackRock Inc. now owns 6,564,388 shares of the construction company’s stock worth $209,273,000 after purchasing an additional 660,834 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in M.D.C. by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,364,077 shares of the construction company’s stock worth $144,930,000 after purchasing an additional 26,295 shares in the last quarter. Vanguard Group Inc. boosted its position in M.D.C. by 14.8% during the second quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock worth $153,611,000 after purchasing an additional 561,481 shares in the last quarter. State Street Corp boosted its position in M.D.C. by 2.2% during the second quarter. State Street Corp now owns 1,527,659 shares of the construction company’s stock worth $53,976,000 after purchasing an additional 32,826 shares in the last quarter. Finally, Hamlin Capital Management LLC boosted its position in M.D.C. by 6.6% during the fourth quarter. Hamlin Capital Management LLC now owns 1,195,187 shares of the construction company’s stock worth $38,103,000 after purchasing an additional 73,535 shares in the last quarter. Institutional investors own 73.38% of the company’s stock.
M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.
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