Grantham Mayo Van Otterloo & Co. LLC Grows Position in M/I Homes, Inc. $MHO

Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in M/I Homes, Inc. (NYSE:MHO) by 57.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,806 shares of the construction company’s stock after buying an additional 3,941 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in M/I Homes were worth $1,561,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Donald Smith & CO. Inc. grew its position in shares of M/I Homes by 9.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock valued at $157,909,000 after acquiring an additional 125,423 shares during the period. Long Pond Capital LP bought a new position in M/I Homes in the 2nd quarter worth $13,694,000. Cramer Rosenthal Mcglynn LLC bought a new position in M/I Homes in the 3rd quarter worth $13,315,000. American Century Companies Inc. lifted its position in M/I Homes by 10.9% during the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock valued at $135,282,000 after purchasing an additional 91,732 shares in the last quarter. Finally, Voss Capital LP lifted its position in M/I Homes by 195.0% during the second quarter. Voss Capital LP now owns 125,000 shares of the construction company’s stock valued at $14,015,000 after purchasing an additional 82,625 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

M/I Homes Trading Down 0.8%

Shares of MHO stock opened at $132.82 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12. The stock has a fifty day simple moving average of $137.85 and a two-hundred day simple moving average of $137.46. The firm has a market capitalization of $3.42 billion, a PE ratio of 9.03 and a beta of 1.77. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $158.92.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, beating the consensus estimate of $3.88 by $0.03. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The business’s revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.71 earnings per share. On average, analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

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

Insider Activity at M/I Homes

In other M/I Homes news, CEO Robert H. Schottenstein sold 14,974 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total value of $2,198,183.20. Following the completion of the transaction, the chief executive officer directly owned 348,513 shares in the company, valued at $51,161,708.40. This represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Susan E. Krohne sold 491 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $72,078.80. Following the sale, the insider directly owned 8,771 shares of the company’s stock, valued at approximately $1,287,582.80. This trade represents a 5.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 49,213 shares of company stock valued at $7,115,268. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on MHO. Oppenheimer set a $165.00 price target on M/I Homes in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Citizens Jmp assumed coverage on M/I Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective for the company. Citigroup reissued a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

M/I Homes 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.