State of Wyoming Invests $921,000 in M/I Homes, Inc. $MHO

State of Wyoming bought a new stake in M/I Homes, Inc. (NYSE:MHO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,726 shares of the construction company’s stock, valued at approximately $921,000.

A number of other hedge funds also recently modified their holdings of the business. Verity Asset Management Inc. acquired a new stake in M/I Homes during the 4th quarter valued at approximately $1,074,000. Militia Capital Management LLC bought a new position in M/I Homes during the first quarter worth $2,816,000. First Eagle Investment Management LLC raised its stake in M/I Homes by 110.1% during the fourth quarter. First Eagle Investment Management LLC now owns 60,100 shares of the construction company’s stock worth $7,690,000 after buying an additional 31,495 shares during the last quarter. Denali Advisors LLC lifted its holdings in M/I Homes by 320.7% in the fourth quarter. Denali Advisors LLC now owns 55,239 shares of the construction company’s stock valued at $7,068,000 after buying an additional 42,108 shares during the period. Finally, Fifth Third Bancorp boosted its position in M/I Homes by 5,254.6% during the first quarter. Fifth Third Bancorp now owns 10,495 shares of the construction company’s stock valued at $1,285,000 after acquiring an additional 10,299 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Transactions at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the completion of the sale, the chief financial officer owned 30,918 shares of the company’s stock, valued at approximately $4,624,096.08. This trade represents a 39.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.60% of the company’s stock.

M/I Homes Price Performance

MHO stock opened at $152.03 on Friday. The stock has a market capitalization of $3.84 billion, a PE ratio of 12.80 and a beta of 1.60. The company’s 50-day moving average is $149.58 and its 200-day moving average is $138.09. 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, Inc. has a 1 year low of $116.78 and a 1 year high of $163.66.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company posted $4.42 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts expect that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.