Comerica Bank Trims Stake in M/I Homes, Inc. $MHO

Comerica Bank lowered its position in M/I Homes, Inc. (NYSE:MHO) by 36.6% in the 4th quarter, Holdings Channel reports. The firm owned 10,509 shares of the construction company’s stock after selling 6,068 shares during the quarter. Comerica Bank’s holdings in M/I Homes were worth $1,345,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MHO. Jones Financial Companies Lllp grew its stake in shares of M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock valued at $30,000 after buying an additional 87 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of M/I Homes by 90.6% during 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. CIBC Private Wealth Group LLC boosted its holdings in M/I Homes by 53.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 475 shares of the construction company’s stock valued at $69,000 after acquiring an additional 166 shares during the period. Root Financial Partners LLC purchased a new position in M/I Homes during the 3rd quarter valued at $87,000. Finally, WealthCollab LLC grew its position in M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock valued at $69,000 after acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

MHO has been the topic of a number of recent analyst reports. Oppenheimer set a $165.00 target price on M/I Homes in a research note on Friday, January 30th. Citigroup restated a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Seaport Research Partners reaffirmed a “neutral” rating on shares of M/I Homes in a research note on Tuesday, April 7th. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.67.

M/I Homes Trading Up 1.3%

MHO opened at $131.74 on Friday. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $128.58 and its two-hundred day moving average is $131.94. The company has a market capitalization of $3.37 billion, a P/E ratio of 9.92 and a beta of 1.65. M/I Homes, Inc. has a 52 week low of $103.52 and a 52 week high of $158.92.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.09). M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The firm had revenue of $920.71 million during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the company posted $3.98 earnings per share. M/I Homes’s quarterly revenue was down 5.8% compared to the same quarter last year. Analysts forecast that M/I Homes, Inc. will post 12.6 earnings per share for the current year.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 8,616 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the completion of the sale, the chief financial officer directly owned 45,815 shares of the company’s stock, valued at $6,725,642. This represents a 15.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan E. Krohne sold 491 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $72,078.80. Following the transaction, the insider owned 8,771 shares in the company, valued at approximately $1,287,582.80. The trade was a 5.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 44,213 shares of company stock worth $6,443,868 over the last three months. 3.60% of the stock is owned by corporate insiders.

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.