M/I Homes, Inc. $MHO Stock Position Lifted by Gradient Investments LLC

Gradient Investments LLC grew its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 6.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 129,757 shares of the construction company’s stock after acquiring an additional 7,846 shares during the quarter. Gradient Investments LLC’s holdings in M/I Homes were worth $17,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of M/I Homes in the 2nd quarter worth about $769,776,000. Donald Smith & CO. Inc. purchased a new stake in M/I Homes during the second quarter worth about $223,736,000. Junto Capital Management LP raised its position in M/I Homes by 3.1% in the second quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock worth $54,395,000 after acquiring an additional 10,047 shares during the period. Bank of America Corp DE bought a new stake in M/I Homes in the second quarter worth about $31,561,000. Finally, Bank of New York Mellon Corp purchased a new position in M/I Homes in the second quarter valued at about $30,032,000. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Stock Performance

Shares of M/I Homes stock traded up $1.01 during trading hours on Thursday, reaching $130.33. The company had a trading volume of 41,745 shares, compared to its average volume of 235,288. The firm has a market cap of $3.29 billion, a PE ratio of 10.98 and a beta of 1.60. M/I Homes, Inc. has a one year low of $116.78 and a one year high of $163.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69. The business has a fifty day simple moving average of $144.91 and a 200 day simple moving average of $139.53.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $4.42 EPS. On average, analysts anticipate that M/I Homes, Inc. will post 12.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

MHO has been the subject of several research analyst reports. Zelman & Associates lowered shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Jefferies Financial Group set a $165.00 target price on M/I Homes in a research report on Thursday. New Street Research set a $172.00 target price on M/I Homes in a research note on Tuesday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. Finally, Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, M/I Homes currently has a consensus rating of “Moderate Buy” and an average target price of $164.40.

Insiders Place Their Bets

In other news, CFO Phillip Creek sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the sale, the chief financial officer directly owned 30,918 shares in the company, valued at $4,624,096.08. This represents a 39.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.60% of the stock is owned by insiders.

About M/I Homes

M/I Homes, Inc is a homebuilder that constructs and sells single-family homes for a range of buyers, including first-time, move-up and luxury customers. The company offers homes in multiple designs and price ranges, with options that may include different floor plans, elevations, finishes and features. Its operations also include land acquisition, development of residential communities and the construction of homes on customer-owned lots.

Founded in 1976 by Irving and Melvin Schottenstein, M/I Homes is headquartered in Columbus, Ohio.