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M.D.C. Holdings Inc. Reports Operating Results (10-K)

February 11, 2011 | About:
10qk

10qk

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M.D.C. Holdings Inc. (MDC) filed Annual Report for the period ended 2010-12-31.

M.d.c. Holdings Inc. has a market cap of $1.53 billion; its shares were traded at around $31.29 with and P/S ratio of 1.8. The dividend yield of M.d.c. Holdings Inc. stocks is 3%.Hedge Fund Gurus that owns MDC: David Einhorn of Greenlight Capital Inc. Mutual Fund and Other Gurus that owns MDC: Arnold Van Den Berg of Century Management, John Buckingham of Al Frank Asset Management, Inc., Third Avenue Management, Chuck Royce of Royce& Associates, Charles Brandes of Brandes Investment.

Highlight of Business Operations:

As of June 30, 2010, the aggregate market value of the Registrants common stock held by non-affiliates of the Registrants was $1.0 billion based on the closing sales price of $26.95 per share as reported on the New York Stock Exchange.

Our Financial Services and Other segment consists of HomeAmerican Mortgage Corporation (HomeAmerican), which originates mortgage loans, primarily for our homebuyers, American Home Insurance Agency, Inc. (American Home Insurance), which offers third-party insurance products to our homebuyers, and American Home Title and Escrow Company (American Home Title), which provides title agency services to the Company and our homebuyers in Colorado, Florida, Illinois, Maryland, Nevada and Virginia. This segment also includes Allegiant Insurance Company, Inc., A Risk Retention Group (Allegiant), which provides to its customers, primarily our homebuilding subsidiaries and certain subcontractors of these homebuilding subsidiaries, products and completed operations coverage on homes sold by our homebuilding subsidiaries and for work performed in completed subdivisions, and StarAmerican Insurance Ltd. (StarAmerican), a Hawaii corporation and a wholly-owned subsidiary of MDC, which beginning in June 2004, re-insures all Allegiant claims in excess of $50,000 per occurrence, up to $3.0 million per occurrence, subject to various aggregate limits.

Our business consists of two primary operations, homebuilding and financial services. We build and sell primarily single-family detached homes that are designed and built to meet local customer preferences. We are the general contractor for all of our projects and retain subcontractors for land development and home construction. The base selling prices for our homes closed during 2010 ranged primarily from approximately $170,000 to $450,000. We build a variety of home styles in each of our markets, targeting generally first-time and first-time move-up homebuyers. Also, we build a limited number of homes for the second-time move-up and luxury homebuyers.

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