Donald Smith & CO. Inc. Purchases Shares of 1,391,480 M/I Homes, Inc. $MHO

Donald Smith & CO. Inc. bought a new stake in M/I Homes, Inc. (NYSE:MHO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,391,480 shares of the construction company’s stock, valued at approximately $223,736,000. M/I Homes comprises about 4.0% of Donald Smith & CO. Inc.’s holdings, making the stock its 5th biggest position. Donald Smith & CO. Inc. owned 5.50% of M/I Homes at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MHO. NewEdge Wealth LLC acquired a new stake in M/I Homes during the second quarter worth about $1,976,000. Verity Asset Management Inc. acquired a new stake in shares of M/I Homes during the 4th quarter worth approximately $1,074,000. Militia Capital Management LLC acquired a new stake in shares of M/I Homes during the 1st quarter worth approximately $2,816,000. First Eagle Investment Management LLC increased its position in shares of M/I Homes by 110.1% during the fourth quarter. First Eagle Investment Management LLC now owns 60,100 shares of the construction company’s stock valued at $7,690,000 after purchasing an additional 31,495 shares during the period. Finally, California State Teachers Retirement System lifted its position in M/I Homes by 28.3% in the first quarter. California State Teachers Retirement System now owns 32,103 shares of the construction company’s stock worth $3,931,000 after purchasing an additional 7,086 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MHO shares. Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Weiss Ratings reissued a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. New Street Research set a $172.00 target price on M/I Homes in a research note on Tuesday, August 4th. Finally, Freedom Capital raised shares of M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.25.

Insider Activity

In related news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the sale, the chief financial officer owned 30,918 shares of the company’s stock, valued at approximately $4,624,096.08. This trade represents a 39.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.

M/I Homes Price Performance

NYSE MHO opened at $152.29 on Friday. M/I Homes, Inc. has a 52-week low of $116.78 and a 52-week high of $163.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. The business has a 50 day simple moving average of $150.75 and a 200 day simple moving average of $138.73. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 12.82 and a beta of 1.60.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $4.42 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. Analysts anticipate that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

M/I Homes Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.