M.D.C. (NYSE:MDC) Rating Lowered to Hold at ValuEngine

ValuEngine downgraded shares of M.D.C. (NYSE:MDC) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

Other research analysts have also issued research reports about the stock. Wedbush raised their price target on shares of M.D.C. from $30.00 to $35.00 and gave the stock a neutral rating in a report on Thursday. Zacks Investment Research upgraded shares of M.D.C. from a hold rating to a strong-buy rating and set a $42.00 price target for the company in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upgraded shares of M.D.C. from an underweight rating to a neutral rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. M.D.C. currently has an average rating of Buy and a consensus target price of $34.80.

M.D.C. stock traded down $0.14 during mid-day trading on Thursday, hitting $36.10. 377,885 shares of the stock were exchanged, compared to its average volume of 551,138. The company has a quick ratio of 2.19, a current ratio of 9.12 and a debt-to-equity ratio of 0.66. M.D.C. has a 12 month low of $25.14 and a 12 month high of $37.86. The firm’s fifty day moving average price is $34.97. The firm has a market capitalization of $2.25 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 1.25 and a beta of 1.13.

M.D.C. (NYSE:MDC) last released its quarterly earnings results on Wednesday, July 31st. The construction company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.08. M.D.C. had a net margin of 6.64% and a return on equity of 13.24%. The firm had revenue of $732.84 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter last year, the business earned $1.03 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. On average, analysts forecast that M.D.C. will post 3.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, August 6th. M.D.C.’s dividend payout ratio (DPR) is 32.70%.

In other news, CFO Robert Nathaniel Martin sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $31.79, for a total transaction of $222,530.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Siegel sold 27,128 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $31.94, for a total transaction of $866,468.32. Following the sale, the director now directly owns 30,618 shares of the company’s stock, valued at approximately $977,938.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,344 shares of company stock valued at $5,544,033. Insiders own 26.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in M.D.C. in the 4th quarter valued at $17,223,000. Millennium Management LLC grew its position in M.D.C. by 209.1% in the 4th quarter. Millennium Management LLC now owns 287,754 shares of the construction company’s stock valued at $8,089,000 after purchasing an additional 194,662 shares during the period. Deutsche Bank AG grew its position in M.D.C. by 134.6% in the 4th quarter. Deutsche Bank AG now owns 254,857 shares of the construction company’s stock valued at $7,162,000 after purchasing an additional 146,234 shares during the period. LSV Asset Management grew its position in M.D.C. by 6.2% in the 1st quarter. LSV Asset Management now owns 2,329,186 shares of the construction company’s stock valued at $67,686,000 after purchasing an additional 135,607 shares during the period. Finally, First Trust Advisors LP grew its position in M.D.C. by 133.9% in the 2nd quarter. First Trust Advisors LP now owns 190,620 shares of the construction company’s stock valued at $6,249,000 after purchasing an additional 109,125 shares during the period. 74.68% of the stock is owned by institutional investors.

M.D.C. Company Profile

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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