M.D.C. (NYSE:MDC) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of M.D.C. (NYSE:MDCGet Rating) from a neutral rating to an underweight rating in a research report released on Tuesday, The Fly reports. The brokerage currently has $28.00 price objective on the construction company’s stock, up from their previous price objective of $27.00.

A number of other equities analysts have also recently weighed in on MDC. Wedbush decreased their price objective on M.D.C. to $28.00 in a report on Friday, November 4th. Raymond James lowered M.D.C. from a strong-buy rating to a market perform rating in a research report on Friday, October 21st. Finally, StockNews.com initiated coverage on M.D.C. in a research report on Wednesday, October 12th. They set a hold rating on the stock. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, M.D.C. has an average rating of Reduce and an average price target of $27.67.

M.D.C. Stock Performance

NYSE:MDC opened at $32.14 on Tuesday. The business’s 50-day moving average price is $29.87 and its two-hundred day moving average price is $32.76. M.D.C. has a twelve month low of $27.04 and a twelve month high of $56.53. The stock has a market cap of $2.29 billion, a P/E ratio of 3.65 and a beta of 1.37. The company has a quick ratio of 1.80, a current ratio of 8.08 and a debt-to-equity ratio of 0.56.

M.D.C. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 9th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.22%. The ex-dividend date was Tuesday, November 8th. M.D.C.’s dividend payout ratio is currently 22.73%.

Insider Transactions at M.D.C.

In other news, CEO David D. Mandarich sold 866,029 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $32.47, for a total value of $28,119,961.63. Following the completion of the transaction, the chief executive officer now owns 5,263,634 shares in the company, valued at $170,910,195.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 24.20% of the company’s stock.

Institutional Trading of M.D.C.

Several large investors have recently modified their holdings of MDC. Tompkins Financial Corp bought a new stake in M.D.C. during the first quarter valued at about $25,000. CWM LLC grew its holdings in M.D.C. by 70.3% during the third quarter. CWM LLC now owns 901 shares of the construction company’s stock valued at $25,000 after purchasing an additional 372 shares during the period. Fifth Third Bancorp boosted its stake in shares of M.D.C. by 94.0% in the second quarter. Fifth Third Bancorp now owns 838 shares of the construction company’s stock worth $27,000 after acquiring an additional 406 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of M.D.C. by 65.2% in the first quarter. Quadrant Capital Group LLC now owns 884 shares of the construction company’s stock worth $33,000 after acquiring an additional 349 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of M.D.C. in the first quarter worth about $42,000. Institutional investors own 73.19% of the company’s stock.

M.D.C. Company Profile

(Get Rating)

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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