Legal & General Group Plc Takes Position in M/I Homes, Inc. $MHO

Legal & General Group Plc purchased a new position in shares of M/I Homes, Inc. (NYSE:MHO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 60,219 shares of the construction company’s stock, valued at approximately $9,683,000. Legal & General Group Plc owned 0.24% of M/I Homes as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in M/I Homes during the second quarter valued at about $769,776,000. Donald Smith & CO. Inc. increased 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 worth $187,234,000 after purchasing an additional 82,090 shares in the last quarter. State Street Corp increased its stake in shares of M/I Homes by 2.2% in the fourth quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock worth $171,093,000 after purchasing an additional 28,187 shares in the last quarter. Millennium Management LLC raised its position in shares of M/I Homes by 107.5% in the fourth quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock valued at $55,592,000 after purchasing an additional 225,120 shares during the period. Finally, Royce & Associates LP raised its position in shares of 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 purchasing an additional 16,445 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling at M/I Homes

In other news, CFO Phillip G. Creek sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total value of $2,991,200.00. Following the transaction, the chief financial officer owned 30,918 shares of the company’s stock, valued at approximately $4,624,096.08. This represents a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.60% of the company’s stock.

M/I Homes Price Performance

MHO stock opened at $146.31 on Wednesday. The firm has a 50 day moving average of $151.39 and a 200-day moving average of $139.24. 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 firm has a market capitalization of $3.70 billion, a P/E ratio of 12.32 and a beta of 1.61.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.13 by $0.01. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. M/I Homes’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.42 earnings per share. As a group, sell-side analysts predict that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MHO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research 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. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Finally, New Street Research set a $172.00 price target on M/I Homes in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.25.

About M/I Homes

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.