Shares of M.D.C. Holdings, Inc. (NYSE:MDC) have been assigned an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $33.20.
MDC has been the subject of several recent research reports. ValuEngine cut M.D.C. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Citigroup reduced their price target on M.D.C. from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. UBS Group reduced their price target on M.D.C. from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Monday, November 6th. Zacks Investment Research raised M.D.C. from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a research report on Thursday, February 1st. Finally, Bank of America increased their price target on M.D.C. from $31.00 to $34.00 and gave the company an “underperform” rating in a research report on Friday, February 2nd.
Shares of M.D.C. (MDC) traded down $0.95 during midday trading on Tuesday, reaching $29.15. The company had a trading volume of 879,095 shares, compared to its average volume of 1,057,699. M.D.C. has a 1 year low of $26.73 and a 1 year high of $35.18. The company has a quick ratio of 3.34, a current ratio of 10.01 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $1,635.99, a PE ratio of 11.68, a PEG ratio of 0.62 and a beta of 1.36.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.12%. This is a boost from M.D.C.’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, February 6th. M.D.C.’s dividend payout ratio (DPR) is presently 48.10%.
In other news, Director David Siegel sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $31.83, for a total value of $79,575.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herbert T. Buchwald sold 28,350 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.52, for a total value of $893,592.00. The disclosure for this sale can be found here. Company insiders own 25.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MDC. Parsec Financial Management Inc. acquired a new stake in shares of M.D.C. in the fourth quarter valued at approximately $203,000. Amalgamated Bank bought a new position in shares of M.D.C. during the fourth quarter worth approximately $207,000. Quantitative Systematic Strategies LLC bought a new position in shares of M.D.C. during the fourth quarter worth approximately $260,000. Sawgrass Asset Management LLC bought a new position in shares of M.D.C. during the third quarter worth approximately $262,000. Finally, Meadow Creek Investment Management LLC increased its stake in shares of M.D.C. by 46.8% during the fourth quarter. Meadow Creek Investment Management LLC now owns 8,344 shares of the construction company’s stock worth $266,000 after purchasing an additional 2,660 shares during the period. 89.36% of the stock is owned by institutional investors.
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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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