1,391,480 Shares in M/I Homes, Inc. $MHO Bought by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. bought a new stake in M/I Homes, Inc. (NYSE:MHO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,391,480 shares of the construction company’s stock, valued at approximately $223,736,000. M/I Homes makes up about 4.0% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 5th largest holding. Donald Smith & CO. Inc. owned about 0.06% of M/I Homes as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC bought a new position in shares of M/I Homes in the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its holdings in M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after acquiring an additional 135 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in M/I Homes during the fourth quarter worth about $49,000. Versant Capital Management Inc boosted its position in M/I Homes by 133.7% during the second quarter. Versant Capital Management Inc now owns 409 shares of the construction company’s stock valued at $66,000 after purchasing an additional 234 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in M/I Homes by 53.7% during the third quarter. CIBC Private Wealth Group LLC now owns 475 shares of the construction company’s stock valued at $69,000 after purchasing an additional 166 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Phillip G. Creek sold 10,000 shares of M/I Homes stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the completion of the transaction, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,677,275.04. The trade was a 24.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

M/I Homes Trading Up 1.6%

Shares of NYSE:MHO opened at $152.29 on Friday. M/I Homes, Inc. has a 52-week low of $116.78 and a 52-week high of $163.66. The company has a market capitalization of $3.85 billion, a P/E ratio of 12.82 and a beta of 1.60. The company has a 50-day simple moving average of $150.75 and a 200 day simple moving average of $138.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65.

M/I Homes (NYSE:MHO) last posted 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 during 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%.M/I Homes’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company posted $4.42 earnings per share. Sell-side analysts forecast that M/I Homes, Inc. will post 12.62 earnings per share for the current year.

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.