M/I Homes, Inc. $MHO Position Boosted by William Blair Investment Management LLC

William Blair Investment Management LLC boosted its position in shares of M/I Homes, Inc. (NYSE:MHO) by 26.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,685 shares of the construction company’s stock after buying an additional 32,815 shares during the quarter. William Blair Investment Management LLC’s holdings in M/I Homes were worth $21,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of M/I Homes in the second quarter worth about $769,776,000. Donald Smith & CO. Inc. purchased a new stake in shares of M/I Homes during the 2nd quarter worth about $223,736,000. Junto Capital Management LP grew its position in shares of M/I Homes by 3.1% during the 2nd quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock valued at $54,395,000 after acquiring an additional 10,047 shares during the period. Bank of America Corp DE acquired a new stake in shares of M/I Homes during the 2nd quarter valued at about $31,561,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of M/I Homes during the 2nd quarter valued at about $30,032,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling at M/I Homes

In related news, CFO Phillip Creek sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $126.28, for a total transaction of $2,525,600.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at $3,904,325.04. This represents a 39.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is currently owned by company insiders.

M/I Homes Price Performance

NYSE:MHO traded up $0.64 during trading hours on Friday, reaching $127.29. 180,943 shares of the company were exchanged, compared to its average volume of 385,199. The company has a current ratio of 7.54, a quick ratio of 1.44 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.19 billion, a PE ratio of 12.10 and a beta of 1.67. M/I Homes, Inc. has a twelve month low of $113.40 and a twelve month high of $163.66. The stock’s 50-day moving average is $132.50 and its 200-day moving average is $137.54.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, October 21st. The construction company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.55). M/I Homes had a net margin of 6.59% and a return on equity of 10.12%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $3.92 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that M/I Homes, Inc. will post 10.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MHO has been the subject of several recent analyst reports. Jefferies Financial Group set a $165.00 price target on M/I Homes in a research note on Thursday, October 8th. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 9th. UBS Group set a $165.00 price objective on M/I Homes in a report on Thursday. Freedom Broker cut their price objective on M/I Homes from $172.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.50.

M/I Homes Company Profile

M/I Homes, Inc. is a homebuilder that plans and constructs single-family homes in a range of styles and price points. Its communities serve buyers including first-time homeowners, move-up buyers and luxury-home customers. Founded in 1976 and headquartered in Columbus, Ohio, the company operates in markets across the Midwest, Mid-Atlantic, Southeast and Texas. Its homebuilding operations are complemented by services that help buyers with mortgage financing and title-related needs. Robert H. Schottenstein serves as the company’s chairman and chief executive officer.