EMG Holdings L.P. Has $2.57 Million Position in M/I Homes, Inc. $MHO

EMG Holdings L.P. lessened its holdings in M/I Homes, Inc. (NYSE:MHO) by 73.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,810 shares of the construction company’s stock after selling 50,491 shares during the period. M/I Homes accounts for 1.0% of EMG Holdings L.P.’s holdings, making the stock its 12th biggest position. EMG Holdings L.P. owned about 0.07% of M/I Homes worth $2,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MHO. Donald Smith & CO. Inc. raised its position in shares of M/I Homes by 9.8% in the second quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock valued at $157,909,000 after purchasing an additional 125,423 shares during the period. American Century Companies Inc. boosted its stake in M/I Homes by 10.9% in the 3rd 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 during the period. Franklin Resources Inc. boosted its position in shares of M/I Homes by 0.4% in the second quarter. Franklin Resources Inc. now owns 572,975 shares of the construction company’s stock valued at $64,242,000 after acquiring an additional 2,021 shares during the period. Invesco Ltd. increased its position in M/I Homes by 116.4% during the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after acquiring an additional 161,881 shares during the period. Finally, JPMorgan Chase & Co. grew its position in M/I Homes by 26.1% during the third quarter. JPMorgan Chase & Co. now owns 266,582 shares of the construction company’s stock worth $38,505,000 after buying an additional 55,206 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

M/I Homes Price Performance

M/I Homes stock opened at $128.52 on Friday. The stock has a 50-day moving average price of $137.92 and a two-hundred day moving average price of $137.16. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $158.92. The company has a market capitalization of $3.31 billion, a PE ratio of 8.74 and a beta of 1.77. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.03. The company had revenue of $1.15 billion during 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 firm’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.71 earnings per share. Analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current year.

Insider Buying and Selling

In other M/I Homes news, CFO Phillip G. Creek sold 8,616 shares of M/I Homes stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the transaction, the chief financial officer directly owned 45,815 shares of the company’s stock, valued at approximately $6,725,642. The trade was a 15.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert H. Schottenstein sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 313,874 shares in the company, valued at $45,345,376.78. This trade represents a 5.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,213 shares of company stock valued at $7,115,268 in the last three months. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MHO. Citizens Jmp initiated coverage on shares of M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective for the company. Zacks Research cut 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 price target on M/I Homes in a report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Finally, Citigroup reissued a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. One equities research 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 company’s stock. According to data from MarketBeat.com, M/I Homes has an average rating of “Moderate Buy” and a consensus target price 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.