Legal & General Group Plc Invests $9.68 Million in M/I Homes, Inc. $MHO

Legal & General Group Plc acquired a new position in M/I Homes, Inc. (NYSE:MHO) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 60,219 shares of the construction company’s stock, valued at approximately $9,683,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hilton Head Capital Partners LLC bought a new stake in M/I Homes during the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after buying an additional 135 shares during the last quarter. Langley Wealth Management LLC bought a new position in shares of M/I Homes in the 2nd quarter worth $45,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of M/I Homes during the 4th quarter valued at $49,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of M/I Homes by 1,090.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock valued at $64,000 after buying an additional 458 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MHO. New Street Research set a $172.00 price objective on shares of M/I Homes in a report on Tuesday, August 4th. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Freedom Capital raised M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, M/I Homes has a consensus rating of “Moderate Buy” and an average price target of $164.25.

M/I Homes Trading Down 1.7%

Shares of MHO stock opened at $146.31 on Wednesday. The stock has a market capitalization of $3.70 billion, a PE ratio of 12.32 and a beta of 1.61. M/I Homes, Inc. has a 1-year low of $116.78 and a 1-year high of $163.66. The business has a 50-day moving average of $151.39 and a 200 day moving average of $139.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $4.42 EPS. As a group, sell-side analysts anticipate that M/I Homes, Inc. will post 12.62 earnings per share for the current year.

Insider Buying and Selling at M/I Homes

In other news, CFO Phillip G. Creek sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total value of $1,512,800.00. Following the transaction, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,677,275.04. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.60% of the company’s stock.

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.