M/I Homes, Inc. (MHO) Holdings Raised by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company boosted its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 0.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,220 shares of the construction company’s stock after purchasing an additional 38 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of M/I Homes worth $521,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada boosted its position in M/I Homes by 11.8% during the second quarter. Royal Bank of Canada now owns 24,251 shares of the construction company’s stock worth $692,000 after purchasing an additional 2,560 shares during the period. Balyasny Asset Management LLC boosted its position in shares of M/I Homes by 180.0% in the second quarter. Balyasny Asset Management LLC now owns 70,000 shares of the construction company’s stock valued at $1,999,000 after acquiring an additional 45,000 shares during the period. Zacks Investment Management bought a new stake in shares of M/I Homes in the second quarter valued at approximately $1,717,000. Donald Smith & CO. Inc. boosted its position in shares of M/I Homes by 7.8% in the second quarter. Donald Smith & CO. Inc. now owns 1,630,431 shares of the construction company’s stock valued at $46,549,000 after acquiring an additional 118,124 shares during the period. Finally, Virtu KCG Holdings LLC bought a new stake in shares of M/I Homes in the second quarter valued at approximately $214,000. 96.90% of the stock is owned by hedge funds and other institutional investors.
In other M/I Homes news, CEO Robert H. Schottenstein sold 15,800 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $31.90, for a total transaction of $504,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Phillip G. Creek sold 25,400 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $32.08, for a total value of $814,832.00. Following the transaction, the insider now owns 60,971 shares of the company’s stock, valued at $1,955,949.68. The disclosure for this sale can be found here. 4.70% of the stock is owned by company insiders.
Shares of M/I Homes, Inc. (MHO) opened at $35.69 on Friday. M/I Homes, Inc. has a 12-month low of $22.55 and a 12-month high of $35.81. The company has a debt-to-equity ratio of 1.00, a current ratio of 6.46 and a quick ratio of 0.87. The firm has a market capitalization of $982.21, a P/E ratio of 13.42 and a beta of 1.27.
M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, October 25th. The construction company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $476.40 million during the quarter, compared to the consensus estimate of $475.42 million. M/I Homes had a return on equity of 12.31% and a net margin of 4.00%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. sell-side analysts anticipate that M/I Homes, Inc. will post 2.76 EPS for the current fiscal year.
Several research firms have recently weighed in on MHO. BidaskClub raised M/I Homes from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th. JMP Securities raised M/I Homes from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research report on Monday, July 31st. They noted that the move was a valuation call. Finally, Zacks Investment Research cut M/I Homes from a “buy” rating to a “hold” rating in a research report on Saturday, September 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $34.00.
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About M/I Homes
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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