Hsbc Holdings PLC Makes New $1.20 Million Investment in M/I Homes, Inc. $MHO

Hsbc Holdings PLC purchased a new stake in shares of M/I Homes, Inc. (NYSE:MHO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,472 shares of the construction company’s stock, valued at approximately $1,199,000.

Several other large investors have also recently bought and sold shares of MHO. BlackRock Inc. acquired a new stake in M/I Homes in the second quarter valued at $769,776,000. Donald Smith & CO. Inc. increased its stake in shares of M/I Homes by 5.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company’s stock worth $187,234,000 after purchasing an additional 82,090 shares during the last quarter. State Street Corp raised its holdings in shares of M/I Homes by 2.2% in the 4th quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock valued at $171,093,000 after purchasing an additional 28,187 shares during the period. Millennium Management LLC raised its holdings in shares of M/I Homes by 107.5% in the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock valued at $55,592,000 after purchasing an additional 225,120 shares during the period. Finally, Royce & Associates LP raised its holdings in shares of M/I Homes by 5.3% in the 4th quarter. Royce & Associates LP now owns 326,606 shares of the construction company’s stock valued at $41,789,000 after purchasing an additional 16,445 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

M/I Homes Stock Performance

NYSE:MHO opened at $148.75 on Tuesday. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 12.52 and a beta of 1.60. M/I Homes, Inc. has a fifty-two week low of $116.78 and a fifty-two week high of $163.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. The stock has a fifty day moving average price of $151.44 and a 200-day moving average price of $139.23.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.M/I Homes’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business earned $4.42 earnings per share. As a group, equities analysts anticipate that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Phillip G. Creek sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total value of $2,991,200.00. Following the completion of the transaction, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,624,096.08. The trade was a 39.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MHO has been the subject of a number of research analyst reports. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. New Street Research set a $172.00 price objective on M/I Homes in a research report on Tuesday, August 4th. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Finally, Freedom Capital raised M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.25.

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.