Vanguard Group Inc. Sells 109,655 Shares of M/I Homes, Inc. $MHO

Vanguard Group Inc. reduced its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,510,159 shares of the construction company’s stock after selling 109,655 shares during the period. Vanguard Group Inc. owned 0.10% of M/I Homes worth $362,567,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in M/I Homes by 46.3% during the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock worth $3,400,000 after acquiring an additional 9,422 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of M/I Homes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company’s stock worth $1,812,000 after purchasing an additional 703 shares during the period. United Services Automobile Association purchased a new stake in shares of M/I Homes in the first quarter worth $205,000. Strs Ohio bought a new stake in shares of M/I Homes during the 1st quarter valued at $114,000. Finally, State of New Jersey Common Pension Fund D raised its position in shares of M/I Homes by 6.4% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 17,718 shares of the construction company’s stock valued at $1,987,000 after purchasing an additional 1,060 shares during the period. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Trading Up 0.5%

Shares of MHO stock opened at $141.16 on Friday. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 9.60 and a beta of 1.77. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $158.92. The stock’s 50-day moving average price is $136.15 and its 200-day moving average price is $137.60.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.03. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business posted $4.71 EPS. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities research analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

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

Insider Activity at M/I Homes

In related news, insider Susan E. Krohne sold 5,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $134.28, for a total value of $671,400.00. Following the sale, the insider owned 6,167 shares in the company, valued at approximately $828,104.76. The trade was a 44.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert H. Schottenstein sold 20,000 shares of the company’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 sale, the chief executive officer directly owned 313,874 shares in the company, valued at approximately $45,345,376.78. The trade was a 5.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 49,213 shares of company stock valued at $7,115,268. 3.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on MHO. Oppenheimer set a $165.00 price target on M/I Homes in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Zacks Research cut M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Citigroup reissued a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Finally, Citizens Jmp started coverage on M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, M/I Homes presently has a consensus rating of “Moderate Buy” and an average target price of $161.67.

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.