Intech Investment Management LLC Lowers Stock Position in M/I Homes, Inc. $MHO

Intech Investment Management LLC decreased its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 20.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,811 shares of the construction company’s stock after selling 3,872 shares during the period. Intech Investment Management LLC owned approximately 0.06% of M/I Homes worth $2,139,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MHO. Vestmark Advisory Solutions Inc. acquired a new position in M/I Homes during the third quarter worth $387,000. Semanteon Capital Management LP purchased a new stake in shares of M/I Homes during the 3rd quarter worth $388,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of M/I Homes by 15.4% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,820 shares of the construction company’s stock worth $407,000 after purchasing an additional 377 shares in the last quarter. NewEdge Wealth LLC grew its stake in shares of M/I Homes by 22.5% during the 3rd quarter. NewEdge Wealth LLC now owns 5,627 shares of the construction company’s stock worth $813,000 after purchasing an additional 1,032 shares during the period. Finally, Denali Advisors LLC purchased a new position in shares of M/I Homes in the 3rd quarter valued at about $1,897,000. 95.14% of the stock is owned by institutional investors and hedge funds.

M/I Homes Price Performance

Shares of NYSE:MHO opened at $144.22 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12. The business’s fifty day moving average price is $137.34 and its two-hundred day moving average price is $137.68. The stock has a market cap of $3.72 billion, a PE ratio of 9.80 and a beta of 1.77. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $158.92.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.03. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 earnings per share. On average, analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on MHO. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a report on Friday, January 30th. Zacks Research lowered M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Citizens Jmp initiated coverage on M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price objective for the company. Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, M/I Homes has an average rating of “Moderate Buy” and a consensus price target of $161.67.

Insider Transactions at M/I Homes

In related news, CEO Robert H. Schottenstein sold 14,974 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the transaction, the chief executive officer owned 348,513 shares of the company’s stock, valued at approximately $51,161,708.40. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Phillip G. Creek sold 8,616 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the sale, the chief financial officer owned 45,815 shares in the company, valued at approximately $6,725,642. This trade represents a 15.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,213 shares of company stock worth $7,115,268 over the last ninety days. 3.50% of the stock is currently 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.