Municipal Employees Retirement System of Michigan Has $915,000 Position in M/I Homes, Inc. (MHO)
Municipal Employees Retirement System of Michigan decreased its position in shares of M/I Homes, Inc. (NYSE:MHO) by 17.2% during the second quarter, Holdings Channel reports. The institutional investor owned 32,060 shares of the construction company’s stock after selling 6,660 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in M/I Homes were worth $915,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of MHO. SG Americas Securities LLC purchased a new stake in M/I Homes during the first quarter worth about $104,000. Bank of Montreal Can raised its stake in M/I Homes by 111.8% in the second quarter. Bank of Montreal Can now owns 4,815 shares of the construction company’s stock worth $137,000 after buying an additional 2,542 shares in the last quarter. State of Alaska Department of Revenue raised its stake in M/I Homes by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 4,894 shares of the construction company’s stock worth $139,000 after buying an additional 2,164 shares in the last quarter. Mason Street Advisors LLC raised its stake in M/I Homes by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,790 shares of the construction company’s stock worth $142,000 after buying an additional 399 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in M/I Homes during the first quarter worth about $156,000.
Shares of M/I Homes, Inc. (NYSE MHO) opened at 25.17 on Friday. M/I Homes, Inc. has a 52 week low of $20.40 and a 52 week high of $29.42. The company has a 50 day moving average of $27.10 and a 200-day moving average of $26.15. The company has a market cap of $631.87 million, a price-to-earnings ratio of 11.91 and a beta of 1.09.
M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. M/I Homes had a return on equity of 12.99% and a net margin of 3.57%. The company had revenue of $456.87 million during the quarter, compared to analyst estimates of $456.56 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts expect that M/I Homes, Inc. will post $3.00 earnings per share for the current fiscal year.
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A number of research firms have recently issued reports on MHO. Wedbush reiterated an “outperform” rating and set a $27.00 price objective on shares of M/I Homes in a research note on Wednesday, April 26th. BidaskClub lowered shares of M/I Homes from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Zacks Investment Research lowered shares of M/I Homes from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. JMP Securities upgraded shares of M/I Homes from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Monday, July 31st. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. M/I Homes presently has an average rating of “Buy” and a consensus price target of $31.00.
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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