M.D.C. Holdings, Inc. (NYSE:MDC) Chairman Larry A. Mizel sold 21,352 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $32.03, for a total value of $683,904.56. Following the completion of the transaction, the chairman now owns 147,310 shares in the company, valued at approximately $4,718,339.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
MDC traded up $0.40 during midday trading on Thursday, reaching $32.20. 6,460 shares of the company were exchanged, compared to its average volume of 409,788. The company has a current ratio of 8.58, a quick ratio of 2.19 and a debt-to-equity ratio of 0.68. M.D.C. Holdings, Inc. has a one year low of $25.14 and a one year high of $33.47. The stock has a market cap of $1.96 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.33.
M.D.C. (NYSE:MDC) last issued its earnings results on Tuesday, April 30th. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. M.D.C. had a return on equity of 14.20% and a net margin of 6.90%. The firm had revenue of $647.28 million for the quarter, compared to analysts’ expectations of $597.26 million. During the same quarter last year, the business earned $0.63 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that M.D.C. Holdings, Inc. will post 3.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Tuesday, May 14th. M.D.C.’s dividend payout ratio (DPR) is currently 30.25%.
Several research firms recently issued reports on MDC. Zacks Investment Research cut M.D.C. from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Wedbush reiterated a “neutral” rating and issued a $30.00 price target on shares of M.D.C. in a report on Wednesday, May 1st. Finally, ValuEngine cut M.D.C. from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.40.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Magnus Financial Group LLC boosted its holdings in M.D.C. by 8.0% during the first quarter. Magnus Financial Group LLC now owns 7,996 shares of the construction company’s stock worth $232,000 after buying an additional 592 shares during the last quarter. Acadian Asset Management LLC bought a new position in M.D.C. during the first quarter worth about $217,000. Parametric Portfolio Associates LLC boosted its holdings in M.D.C. by 4.5% during the first quarter. Parametric Portfolio Associates LLC now owns 356,784 shares of the construction company’s stock worth $10,368,000 after buying an additional 15,451 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in M.D.C. by 14.5% during the first quarter. Piedmont Investment Advisors Inc. now owns 12,343 shares of the construction company’s stock worth $359,000 after buying an additional 1,563 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in M.D.C. during the first quarter worth about $56,000. Hedge funds and other institutional investors own 83.50% of the company’s stock.
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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