M.D.C. Holdings, Inc. (NYSE:MDC) Director Michael A. Berman Sells 10,000 Shares of Stock

M.D.C. Holdings, Inc. (NYSE:MDC) Director Michael A. Berman sold 10,000 shares of M.D.C. stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $70.52, for a total value of $705,200.00. Following the transaction, the director now directly owns 148,218 shares of the company’s stock, valued at approximately $10,452,333.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NYSE MDC traded down $0.03 during midday trading on Friday, hitting $38.97. 287,651 shares of the company’s stock were exchanged, compared to its average volume of 317,202. M.D.C. Holdings, Inc. has a 12-month low of $25.14 and a 12-month high of $39.33. The company has a current ratio of 9.12, a quick ratio of 2.19 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.32 and a beta of 1.08. The business’s fifty day moving average price is $36.99 and its two-hundred day moving average price is $32.81.

M.D.C. (NYSE:MDC) last issued its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.08. M.D.C. had a return on equity of 13.24% and a net margin of 6.64%. The company had revenue of $732.84 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the previous year, the firm earned $1.03 earnings per share. M.D.C.’s revenue was down 2.2% on a year-over-year basis. Equities analysts expect that M.D.C. Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Tuesday, August 6th. M.D.C.’s payout ratio is 32.70%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in M.D.C. by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,761,297 shares of the construction company’s stock valued at $133,841,000 after buying an additional 14,715 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in M.D.C. in the first quarter valued at approximately $234,000. Arizona State Retirement System lifted its position in M.D.C. by 8.5% in the first quarter. Arizona State Retirement System now owns 75,698 shares of the construction company’s stock valued at $2,200,000 after purchasing an additional 5,949 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its position in M.D.C. by 60.2% in the first quarter. Kornitzer Capital Management Inc. KS now owns 20,923 shares of the construction company’s stock valued at $608,000 after purchasing an additional 7,863 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in M.D.C. by 19.9% in the first quarter. Rhumbline Advisers now owns 159,974 shares of the construction company’s stock valued at $4,649,000 after purchasing an additional 26,577 shares during the last quarter. 76.49% of the stock is owned by institutional investors.

Several research analysts have recently commented on MDC shares. ValuEngine lowered M.D.C. from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wedbush boosted their price objective on M.D.C. from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised M.D.C. from an “underweight” rating to a “neutral” rating in a report on Monday, July 8th. Finally, Zacks Investment Research raised M.D.C. from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $34.80.

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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