M.D.C. (NYSE:MDC) Hits New 1-Year High at $61.70

M.D.C. Holdings, Inc. (NYSE:MDC) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $61.70 and last traded at $61.64, with a volume of 10212 shares traded. The stock had previously closed at $60.65.

MDC has been the topic of a number of analyst reports. Raymond James boosted their price target on M.D.C. from $61.00 to $71.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 25th. Wolfe Research started coverage on M.D.C. in a report on Monday, March 22nd. They set a “peer perform” rating on the stock. Finally, Bank of America reissued an “underperform” rating and set a $63.00 price target on shares of M.D.C. in a report on Thursday, March 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. M.D.C. presently has an average rating of “Hold” and a consensus target price of $58.50.

The company has a current ratio of 7.69, a quick ratio of 1.89 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3.90 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 0.48 and a beta of 1.53. The firm has a 50 day moving average price of $57.39 and a 200 day moving average price of $51.43.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Tuesday, February 2nd. The construction company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.73 by $0.46. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. M.D.C. had a return on equity of 16.78% and a net margin of 8.27%. M.D.C.’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 EPS. On average, equities research analysts expect that M.D.C. Holdings, Inc. will post 5.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 24th. Stockholders of record on Wednesday, February 10th were paid a $0.3429 dividend. The ex-dividend date of this dividend was Tuesday, February 9th. This represents a $1.37 annualized dividend and a dividend yield of 2.29%. M.D.C.’s dividend payout ratio (DPR) is 39.78%.

In other M.D.C. news, Chairman Larry A. Mizel sold 125,000 shares of the stock in a transaction on Wednesday, February 10th. The stock was sold at an average price of $59.31, for a total value of $7,413,750.00. Following the completion of the sale, the chairman now owns 254,343 shares in the company, valued at approximately $15,085,083.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Berman sold 9,204 shares of the stock in a transaction on Thursday, March 4th. The stock was sold at an average price of $52.83, for a total value of $486,247.32. The disclosure for this sale can be found here. Insiders sold a total of 157,406 shares of company stock valued at $9,243,404 over the last 90 days. 25.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in M.D.C. by 8.7% in the 4th quarter. BlackRock Inc. now owns 9,988,492 shares of the construction company’s stock worth $485,443,000 after buying an additional 800,254 shares in the last quarter. CVentures Inc. purchased a new stake in M.D.C. in the 4th quarter worth $390,649,000. Hamlin Capital Management LLC increased its stake in M.D.C. by 3.1% in the 4th quarter. Hamlin Capital Management LLC now owns 1,560,077 shares of the construction company’s stock worth $75,820,000 after buying an additional 46,234 shares in the last quarter. Norges Bank purchased a new stake in M.D.C. in the 4th quarter worth $30,642,000. Finally, Charles Schwab Investment Management Inc. increased its stake in M.D.C. by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 485,823 shares of the construction company’s stock worth $23,611,000 after buying an additional 8,390 shares in the last quarter. Institutional investors and hedge funds own 73.61% of the company’s stock.

About M.D.C. (NYSE:MDC)

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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