M.D.C. (NYSE:MDC) had its target price increased by JPMorgan Chase & Co. from $38.50 to $50.00 in a report published on Wednesday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the construction company’s stock.
Several other research firms have also recently issued reports on MDC. ValuEngine raised shares of M.D.C. from a strong sell rating to a sell rating in a research report on Monday, July 13th. Evercore ISI upgraded shares of M.D.C. from an in-line rating to an outperform rating and set a $61.00 price target for the company in a research report on Wednesday. Raymond James dropped their price objective on M.D.C. from $52.00 to $35.00 and set a strong-buy rating for the company in a research note on Thursday, April 9th. Wedbush lowered their target price on M.D.C. from $40.00 to $29.00 and set a neutral rating on the stock in a report on Thursday, April 2nd. Finally, Zacks Investment Research upgraded shares of M.D.C. from a sell rating to a strong-buy rating and set a $43.00 price objective on the stock in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. M.D.C. presently has a consensus rating of Hold and an average target price of $43.33.
Shares of M.D.C. stock opened at $44.83 on Wednesday. The business’s 50 day moving average price is $36.72 and its 200 day moving average price is $34.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 7.53. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.45 and a beta of 1.54. M.D.C. has a one year low of $15.75 and a one year high of $48.99.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Tuesday, August 11th. M.D.C.’s dividend payout ratio is presently 35.48%.
In other news, CEO Larry A. Mizel sold 110,224 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $44.82, for a total value of $4,940,239.68. Following the completion of the sale, the chief executive officer now owns 230,849 shares in the company, valued at $10,346,652.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Siegel sold 29,194 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $44.90, for a total value of $1,310,810.60. Following the completion of the sale, the director now directly owns 11,621 shares of the company’s stock, valued at approximately $521,782.90. The disclosure for this sale can be found here. Company insiders own 25.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Hamlin Capital Management LLC grew its stake in shares of M.D.C. by 100.0% in the second quarter. Hamlin Capital Management LLC now owns 1,593,691 shares of the construction company’s stock valued at $56,895,000 after buying an additional 796,773 shares in the last quarter. Norges Bank purchased a new position in M.D.C. in the fourth quarter valued at $25,849,000. Advisory Research Inc. acquired a new stake in M.D.C. in the first quarter valued at $10,241,000. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in M.D.C. by 284.2% during the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 412,633 shares of the construction company’s stock worth $9,573,000 after buying an additional 305,233 shares during the last quarter. Finally, Bahl & Gaynor Inc. purchased a new stake in M.D.C. during the 1st quarter worth about $4,548,000. 75.71% of the stock is currently 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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