JPMorgan Chase & Co. Has $38.51 Million Position in M/I Homes, Inc. $MHO

JPMorgan Chase & Co. increased its position in shares of M/I Homes, Inc. (NYSE:MHO) by 26.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 266,582 shares of the construction company’s stock after buying an additional 55,206 shares during the quarter. JPMorgan Chase & Co. owned 1.02% of M/I Homes worth $38,505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of M/I Homes by 46.3% during the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock worth $3,400,000 after acquiring an additional 9,422 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in M/I Homes by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company’s stock worth $1,812,000 after buying an additional 703 shares in the last quarter. United Services Automobile Association acquired a new position in shares of M/I Homes during the 1st quarter worth about $205,000. Strs Ohio acquired a new position in shares of M/I Homes during the 1st quarter worth about $114,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of M/I Homes by 6.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 17,718 shares of the construction company’s stock valued at $1,987,000 after acquiring an additional 1,060 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity

In related news, insider Susan E. Krohne sold 5,000 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $134.28, for a total value of $671,400.00. Following the completion of the sale, the insider directly owned 6,167 shares in the company, valued at $828,104.76. The trade was a 44.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert H. Schottenstein sold 20,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $144.47, for a total value of $2,889,400.00. Following the transaction, the chief executive officer owned 313,874 shares in the company, valued at $45,345,376.78. The trade was a 5.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 49,213 shares of company stock valued at $7,115,268. 3.50% of the stock is owned by insiders.

M/I Homes Price Performance

NYSE:MHO opened at $142.10 on Friday. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $158.92. The company has a market cap of $3.66 billion, a P/E ratio of 9.66 and a beta of 1.77. The firm’s fifty day moving average price is $136.45 and its two-hundred day moving average price is $137.69. 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 (NYSE:MHO) last posted its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.03. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company posted $4.71 EPS. M/I Homes’s quarterly revenue was down 4.9% compared to the same quarter last year. Equities analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

MHO has been the subject of several recent research reports. Citizens Jmp initiated coverage on M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price target for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Zacks Research cut shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Oppenheimer set a $165.00 target price on shares of M/I Homes in a report on Friday, January 30th. Finally, Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a research note 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

M/I Homes Company 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.