Bank of New York Mellon Corp Has $22.63 Million Stake in M/I Homes, Inc. $MHO

Bank of New York Mellon Corp lowered its position in M/I Homes, Inc. (NYSE:MHO) by 6.6% in the second quarter, HoldingsChannel.com reports. The fund owned 201,821 shares of the construction company’s stock after selling 14,219 shares during the quarter. Bank of New York Mellon Corp’s holdings in M/I Homes were worth $22,628,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MHO. Donald Smith & CO. Inc. increased its holdings in M/I Homes by 10.2% during the 1st quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company’s stock valued at $146,489,000 after purchasing an additional 118,778 shares in the last quarter. Millennium Management LLC grew its holdings in shares of M/I Homes by 109.4% during the first quarter. Millennium Management LLC now owns 500,207 shares of the construction company’s stock worth $57,114,000 after purchasing an additional 261,381 shares during the last quarter. Royce & Associates LP increased its stake in shares of M/I Homes by 14.4% in the first quarter. Royce & Associates LP now owns 314,362 shares of the construction company’s stock valued at $35,894,000 after buying an additional 39,491 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of M/I Homes by 77.5% in the first quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company’s stock valued at $26,155,000 after buying an additional 100,029 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of M/I Homes by 6.4% in the second quarter. Assenagon Asset Management S.A. now owns 209,427 shares of the construction company’s stock valued at $23,481,000 after buying an additional 12,506 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Stock Performance

M/I Homes stock opened at $128.72 on Friday. The company has a market cap of $3.37 billion, a PE ratio of 7.56 and a beta of 1.66. The company has a current ratio of 7.17, a quick ratio of 1.52 and a debt-to-equity ratio of 0.29. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $172.23. The company’s 50-day moving average is $138.51 and its two-hundred day moving average is $126.57.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, October 22nd. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.37 by ($0.45). M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. M/I Homes’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes declared that its board has authorized a share buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a research report on Wednesday, October 8th. Zelman & Associates raised shares of M/I Homes from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. Finally, Raymond James Financial boosted their price objective on shares of M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $155.00.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.