The Manufacturers Life Insurance Company Takes $2.09 Million Position in M/I Homes, Inc. $MHO

The Manufacturers Life Insurance Company bought a new stake in shares of M/I Homes, Inc. (NYSE:MHO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,023 shares of the construction company’s stock, valued at approximately $2,094,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cullen Capital Management LLC bought a new stake in M/I Homes in the second quarter valued at approximately $658,000. Algert Global LLC grew its holdings in shares of M/I Homes by 13.0% in the second quarter. Algert Global LLC now owns 73,509 shares of the construction company’s stock worth $11,820,000 after purchasing an additional 8,440 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of M/I Homes in the second quarter worth $396,000. PEAK6 LLC purchased a new position in shares of M/I Homes in the second quarter worth $629,000. Finally, Quantbot Technologies LP bought a new stake in M/I Homes during the 2nd quarter valued at $167,000. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Price Performance

MHO stock opened at $146.97 on Thursday. 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. The firm has a 50-day moving average of $151.15 and a 200 day moving average of $139.24. The company has a market cap of $3.72 billion, a P/E ratio of 12.37 and a beta of 1.61.

M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, topping 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 firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business earned $4.42 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, sell-side analysts forecast that M/I Homes, Inc. will post 12.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings restated 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 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. Finally, Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Two investment 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.25.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the sale, the chief financial officer directly owned 30,918 shares in the company, valued at $4,624,096.08. The trade was a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.60% of the stock is currently owned by insiders.

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.