Insider Buying: Melcor Developments (TSE:MRD) Director Purchases 3,800 Shares of Stock

Key Points

• Melcor Developments director Andrew John Melton purchased 3,800 shares at C$18.58 each, investing C$70,604 and increasing his direct ownership by 6.55% to 61,800 shares. He also bought 100 shares several days earlier.
• Melcor shares traded at C$18.50, near their 200-day moving average, with a market capitalization of approximately C$554.7 million and a price-to-earnings ratio of 6.17.
• The company reported quarterly EPS of C$0.73 on revenue of C$61.99 million and pays a quarterly dividend of C$0.15 per share, equivalent to a 3.2% annualized yield.

Melcor Developments Ltd. (TSE:MRD - Get Free Report) Director Andrew John Melton purchased 3,800 shares of the business's stock in a transaction that occurred on Tuesday, September 29th. The shares were bought at an average price of C$18.58 per share, for a total transaction of C$70,604.00. Following the completion of the purchase, the director directly owned 61,800 shares in the company, valued at C$1,148,244. This represents a 6.55% increase in their ownership of the stock.

Andrew John Melton also recently made the following trade(s):

• On Friday, September 25th, Andrew John Melton purchased 100 shares of Melcor Developments stock. The stock was bought at an average cost of C$18.58 per share, with a total value of C$1,858.00.

Melcor Developments Stock Performance

TSE MRD traded up C$0.10 during trading hours on Wednesday, hitting C$18.50. The company had a trading volume of 6,998 shares, compared to its average volume of 8,274. The company has a debt-to-equity ratio of 37.81, a quick ratio of 2.65 and a current ratio of 5.10. Melcor Developments Ltd. has a 1-year low of C$14.18 and a 1-year high of C$19.47. The company has a market cap of C$554.74 million, a PE ratio of 6.17 and a beta of 0.46. The business has a 50 day moving average of C$18.66 and a 200-day moving average of C$18.46.

Melcor Developments (TSE:MRD - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported C$0.73 EPS for the quarter. Melcor Developments had a return on equity of 7.14% and a net margin of 24.75%.The business had revenue of C$61.99 million for the quarter. As a group, equities research analysts expect that Melcor Developments Ltd. will post 2.3613596 EPS for the current year.

Melcor Developments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.60 annualized dividend and a yield of 3.2%. Melcor Developments's payout ratio is 18.67%.

About Melcor Developments

Melcor is a diversified real estate development and asset management company that transforms real estate from raw land through to high-quality finished product in both residential and commercial built form. Melcor develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centres and golf courses. Melcor owns a well diversified portfolio of assets in Alberta, Saskatchewan, British Columbia, Arizona and Colorado. Melcor has been focused on real estate since 1923.

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