The Manufacturers Life Insurance Company Purchases Shares of 13,023 M/I Homes, Inc. $MHO

The Manufacturers Life Insurance Company purchased a new stake in shares of M/I Homes, Inc. (NYSE:MHO) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 13,023 shares of the construction company’s stock, valued at approximately $2,094,000. The Manufacturers Life Insurance Company owned approximately 0.05% of M/I Homes at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new stake in M/I Homes during the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC increased its stake in M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after acquiring an additional 135 shares during the last quarter. Langley Wealth Management LLC purchased a new stake in shares of M/I Homes in the 2nd quarter valued at about $45,000. Aster Capital Management DIFC Ltd bought a new stake in shares of M/I Homes during the 4th quarter valued at about $49,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of M/I Homes by 1,090.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock valued at $64,000 after acquiring an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Price Performance

Shares of M/I Homes stock opened at $146.97 on Thursday. The firm has a market capitalization of $3.72 billion, a PE ratio of 12.37 and a beta of 1.61. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29. M/I Homes, Inc. has a 12 month low of $116.78 and a 12 month high of $163.66. The business’s 50-day moving average price is $151.15 and its 200-day moving average price is $139.24.

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

Analyst Ratings Changes

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

Insider Buying and Selling at M/I Homes

In other news, CFO Phillip G. Creek sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total value of $1,512,800.00. Following the completion of the sale, the chief financial officer owned 30,918 shares of the company’s stock, valued at approximately $4,677,275.04. This represents a 24.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.60% of the company’s stock.

M/I Homes Company 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.