Vanguard Group Inc. Sells 109,655 Shares of M/I Homes, Inc. $MHO

Vanguard Group Inc. cut its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,510,159 shares of the construction company’s stock after selling 109,655 shares during the quarter. Vanguard Group Inc. owned about 9.60% of M/I Homes worth $362,567,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MHO. Denali Advisors LLC bought a new position in M/I Homes in the 3rd quarter worth about $1,897,000. JPMorgan Chase & Co. increased its stake in M/I Homes by 26.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 266,582 shares of the construction company’s stock valued at $38,505,000 after purchasing an additional 55,206 shares in the last quarter. Assetmark Inc. raised its holdings in M/I Homes by 6.6% in the third quarter. Assetmark Inc. now owns 53,476 shares of the construction company’s stock worth $7,724,000 after buying an additional 3,307 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of M/I Homes by 12.6% in the third quarter. Public Sector Pension Investment Board now owns 113,847 shares of the construction company’s stock worth $16,444,000 after buying an additional 12,716 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in shares of M/I Homes in the third quarter worth approximately $223,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Transactions at M/I Homes

In other M/I Homes news, CEO Robert H. Schottenstein sold 20,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $144.47, for a total value of $2,889,400.00. Following the transaction, the chief executive officer directly owned 313,874 shares in the company, valued at approximately $45,345,376.78. This trade represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan E. Krohne sold 5,000 shares of M/I Homes stock in a transaction on Friday, January 30th. The stock was sold at an average price of $134.28, for a total transaction of $671,400.00. Following the transaction, the insider owned 6,167 shares in the company, valued at $828,104.76. This represents a 44.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 49,213 shares of company stock worth $7,115,268 in the last quarter. Company insiders own 3.50% of the company’s stock.

M/I Homes Stock Performance

MHO stock opened at $141.16 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.12 and a quick ratio of 1.86. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $158.92. The company has a market cap of $3.64 billion, a P/E ratio of 9.60 and a beta of 1.77. The stock’s fifty day moving average price is $136.15 and its 200-day moving average price is $137.60.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, beating 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%.M/I Homes’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.71 earnings per share. On average, equities analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes declared that its board has authorized a stock buyback plan on Wednesday, November 12th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

MHO has been the subject of several analyst reports. Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Oppenheimer set a $165.00 target price on M/I Homes in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Citizens Jmp began coverage on M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective on the stock. Finally, Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $161.67.

About M/I Homes

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.