Paloma Partners Management Co Invests $322,000 in M/I Homes Inc (MHO)
Paloma Partners Management Co acquired a new stake in M/I Homes Inc (NYSE:MHO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,149 shares of the construction company’s stock, valued at approximately $322,000.
Several other institutional investors and hedge funds also recently made changes to their positions in MHO. Rhumbline Advisers boosted its stake in shares of M/I Homes by 4.0% in the 1st quarter. Rhumbline Advisers now owns 69,430 shares of the construction company’s stock valued at $2,211,000 after buying an additional 2,672 shares during the period. Swiss National Bank lifted its stake in M/I Homes by 8.3% during the first quarter. Swiss National Bank now owns 48,100 shares of the construction company’s stock worth $1,532,000 after purchasing an additional 3,700 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in M/I Homes by 21.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 200,331 shares of the construction company’s stock worth $6,381,000 after purchasing an additional 35,252 shares during the last quarter. US Bancorp DE lifted its stake in M/I Homes by 11,290.4% during the first quarter. US Bancorp DE now owns 15,377 shares of the construction company’s stock worth $489,000 after purchasing an additional 15,242 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in M/I Homes by 2.0% during the first quarter. Northern Trust Corp now owns 336,309 shares of the construction company’s stock worth $10,712,000 after purchasing an additional 6,514 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.
Several equities research analysts recently weighed in on the company. ValuEngine cut M/I Homes from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research upgraded M/I Homes from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $40.00.
MHO stock opened at $24.16 on Friday. The company has a market cap of $716.56 million, a P/E ratio of 8.39 and a beta of 1.09. M/I Homes Inc has a fifty-two week low of $24.13 and a fifty-two week high of $37.41. The company has a debt-to-equity ratio of 1.01, a current ratio of 6.15 and a quick ratio of 0.64.
M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, July 25th. The construction company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.08. The firm had revenue of $558.10 million during the quarter, compared to analysts’ expectations of $527.00 million. M/I Homes had a return on equity of 12.69% and a net margin of 3.91%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. sell-side analysts anticipate that M/I Homes Inc will post 3.93 earnings per share for the current fiscal year.
M/I Homes declared that its board has approved a stock repurchase program on Tuesday, August 14th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 6.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
M/I Homes Company Profile
M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.
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