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Pulte, MDC: Homebuilder Winners

NEW YORK ( TheStreet) -- PulteGroup (PHM - Get Report), MDC Holdings (MDC - Get Report) and other homebuilder stocks rose sharply in trading Tuesday on strong preliminary results and an increased dividend.

PulteGroup said Monday that preliminary results for the first two months of this year showed a 10.7% increase in net new signups, year-over-year, indicating that demand was growing among potential new-home buyers.

MDC Holdings shares soared after the small-cap homebuilder announced a 7.7% increase to its quarterly cash dividend , paying 14 cents per share on April 8 to shareholders of record on March 17.

That brings MDC's yield going forward to around 2.3% as of Monday's close.

PulteGroup shares jumped 8.4% to trade at $7.09 Tuesday afternoon, while MDC soared 11.5% to $27.63 ahead of the closing bell.

D.R. Horton (DHI - Get Report) rose 5.3%.
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SPF $0.00 0.00%
DHI $30.06 0.00%
ITB $26.59 0.00%
LEN $45.31 0.00%
MDC $24.61 0.00%


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