Louisiana State Employees Retirement System Purchases New Position in M/I Homes, Inc. $MHO

Louisiana State Employees Retirement System acquired a new stake in M/I Homes, Inc. (NYSE:MHO) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 11,600 shares of the construction company’s stock, valued at approximately $1,420,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Donald Smith & CO. Inc. grew its stake in shares of M/I Homes by 5.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company’s stock valued at $187,234,000 after buying an additional 82,090 shares in the last quarter. State Street Corp boosted its holdings in M/I Homes by 2.2% in the 4th quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock worth $171,093,000 after acquiring an additional 28,187 shares during the period. Millennium Management LLC boosted its holdings in M/I Homes by 107.5% in the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock worth $55,592,000 after acquiring an additional 225,120 shares during the period. Royce & Associates LP grew its position in M/I Homes by 5.3% in the fourth quarter. Royce & Associates LP now owns 326,606 shares of the construction company’s stock valued at $41,789,000 after acquiring an additional 16,445 shares in the last quarter. Finally, Invesco Ltd. grew its position in M/I Homes by 116.4% in the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock valued at $43,464,000 after acquiring an additional 161,881 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MHO shares. Seaport Research Partners reissued a “neutral” rating on shares of M/I Homes in a research report on Tuesday, April 7th. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Freedom Capital raised shares of 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 Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $161.67.

M/I Homes Price Performance

Shares of NYSE MHO opened at $157.01 on Friday. M/I Homes, Inc. has a fifty-two week low of $110.94 and a fifty-two week high of $163.66. The business has a 50 day moving average price of $138.14 and a two-hundred day moving average price of $134.32. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30. The firm has a market cap of $4.02 billion, a PE ratio of 11.82 and a beta of 1.60.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.09). M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The business had revenue of $920.71 million for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the firm earned $3.98 earnings per share. M/I Homes’s revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts expect that M/I Homes, Inc. will post 12.6 earnings per share for the current fiscal year.

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.