Grantham Mayo Van Otterloo & Co. LLC Has $770,000 Stock Holdings in M/I Homes, Inc. $MHO

Grantham Mayo Van Otterloo & Co. LLC lowered its position in shares of M/I Homes, Inc. (NYSE:MHO) by 14.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,865 shares of the construction company’s stock after selling 1,173 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in M/I Homes were worth $770,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Advantage Alpha Capital Partners LP acquired a new stake in shares of M/I Homes during the second quarter worth approximately $3,066,000. Inceptionr LLC acquired a new position in shares of M/I Homes in the 2nd quarter worth approximately $214,000. Summit Global Investments bought a new stake in M/I Homes during the 2nd quarter worth approximately $264,000. American Century Companies Inc. increased its holdings in M/I Homes by 10.7% during the 2nd quarter. American Century Companies Inc. now owns 844,865 shares of the construction company’s stock valued at $94,726,000 after purchasing an additional 81,838 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in M/I Homes by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 572,975 shares of the construction company’s stock valued at $64,242,000 after purchasing an additional 2,021 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on MHO. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a report on Wednesday, October 8th. Raymond James Financial lifted their price target on M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Zelman & Associates raised shares of M/I Homes from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. Finally, Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $155.00.

M/I Homes Trading Down 0.9%

Shares of MHO opened at $136.37 on Tuesday. The stock’s fifty day simple moving average is $133.99 and its 200-day simple moving average is $128.35. The firm has a market capitalization of $3.57 billion, a PE ratio of 8.01 and a beta of 1.66. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $168.50. The company has a quick ratio of 1.52, a current ratio of 7.17 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, October 22nd. The construction company reported $3.92 EPS 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 firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes announced that its board has authorized a share buyback program on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

M/I Homes Profile

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.