M/I Homes (NYSE:MHO) CEO Sells $2,889,400.00 in Stock

M/I Homes, Inc. (NYSE:MHO) CEO Robert Schottenstein sold 20,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $144.47, for a total transaction 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. This represents a 5.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

M/I Homes Stock Down 0.2%

NYSE:MHO traded down $0.33 during trading hours on Wednesday, reaching $145.08. The company’s stock had a trading volume of 167,851 shares, compared to its average volume of 251,837. The company has a debt-to-equity ratio of 0.31, a current ratio of 7.54 and a quick ratio of 1.72. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 9.86 and a beta of 1.77. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $158.92. The business’s 50-day moving average is $133.65 and its 200-day moving average is $136.18.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.03. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.71 earnings per share. Equities research analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 12th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MHO shares. Citizens Jmp began coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They issued 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 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. Raymond James Financial boosted their price objective on M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 24th. Finally, Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, M/I Homes has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Institutional Trading of M/I Homes

Hedge funds have recently modified their holdings of the company. Nordea Investment Management AB lifted its position in shares of M/I Homes by 0.3% during the second quarter. Nordea Investment Management AB now owns 86,704 shares of the construction company’s stock worth $9,712,000 after purchasing an additional 235 shares in the last quarter. Donald Smith & CO. Inc. raised its position in M/I Homes by 9.8% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock worth $157,909,000 after purchasing an additional 125,423 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new position in M/I Homes during the 2nd quarter worth $3,066,000. American Century Companies Inc. boosted its position in M/I Homes by 10.7% in the 2nd quarter. American Century Companies Inc. now owns 844,865 shares of the construction company’s stock valued at $94,726,000 after buying an additional 81,838 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its position in M/I Homes by 95.5% in the 2nd quarter. Edgestream Partners L.P. now owns 32,483 shares of the construction company’s stock valued at $3,642,000 after buying an additional 15,871 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

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.