Cullen Capital Management LLC Invests $658,000 in M/I Homes, Inc. $MHO

Cullen Capital Management LLC bought a new stake in M/I Homes, Inc. (NYSE:MHO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,095 shares of the construction company’s stock, valued at approximately $658,000.

Several other hedge funds also recently made changes to their positions in MHO. Hilton Head Capital Partners LLC bought a new position in M/I Homes in the fourth quarter worth $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of M/I Homes by 90.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after buying an additional 135 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of M/I Homes during the 4th quarter valued at $49,000. Versant Capital Management Inc grew its position in shares of M/I Homes by 133.7% in the 2nd quarter. Versant Capital Management Inc now owns 409 shares of the construction company’s stock worth $66,000 after buying an additional 234 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of M/I Homes by 53.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 475 shares of the construction company’s stock worth $69,000 after acquiring an additional 166 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the transaction, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,624,096.08. This represents a 39.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.60% of the company’s stock.

M/I Homes Stock Performance

MHO stock opened at $154.22 on Wednesday. The stock’s 50 day simple moving average is $151.17 and its 200 day simple moving average is $138.99. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29. M/I Homes, Inc. has a 12-month low of $116.78 and a 12-month high of $163.66. The stock has a market capitalization of $3.90 billion, a PE ratio of 12.98 and a beta of 1.60.

M/I Homes (NYSE:MHO) last posted its 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 analyst estimates of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The company’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $4.42 EPS. As a group, research analysts forecast that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.