Commonwealth Equity Services LLC Raises Stake in M/I Homes, Inc. (NYSE:MHO)

Commonwealth Equity Services LLC raised its position in shares of M/I Homes, Inc. (NYSE:MHO) by 18.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,506 shares of the construction company’s stock after purchasing an additional 542 shares during the quarter. Commonwealth Equity Services LLC’s holdings in M/I Homes were worth $428,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MHO. BI Asset Management Fondsmaeglerselskab A S bought a new position in M/I Homes during the first quarter valued at $4,281,000. Assenagon Asset Management S.A. raised its position in shares of M/I Homes by 42.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 55,471 shares of the construction company’s stock valued at $6,775,000 after purchasing an additional 16,413 shares during the last quarter. Vanguard Group Inc. increased its holdings in M/I Homes by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock worth $283,313,000 after buying an additional 95,437 shares during the period. Los Angeles Capital Management LLC increased its holdings in M/I Homes by 137.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 12,021 shares of the construction company’s stock worth $1,638,000 after buying an additional 6,950 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new position in M/I Homes in the 1st quarter worth approximately $776,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Transactions at M/I Homes

In other news, CFO Phillip G. Creek sold 2,767 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the sale, the chief financial officer now owns 18,545 shares in the company, valued at $3,082,920.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Phillip G. Creek sold 2,767 shares of M/I Homes stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the transaction, the chief financial officer now owns 18,545 shares in the company, valued at approximately $3,082,920.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $166.12, for a total value of $347,024.68. Following the completion of the sale, the chief executive officer now directly owns 122,951 shares in the company, valued at approximately $20,424,620.12. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

M/I Homes Price Performance

Shares of NYSE MHO opened at $169.58 on Friday. The stock has a market cap of $4.71 billion, a P/E ratio of 9.76 and a beta of 2.23. The company has a current ratio of 6.62, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $155.23 and a two-hundred day moving average of $134.44. M/I Homes, Inc. has a twelve month low of $74.79 and a twelve month high of $173.86.

M/I Homes (NYSE:MHO) last posted its earnings results on Tuesday, July 30th. The construction company reported $5.12 earnings per share for the quarter, beating the consensus estimate of $4.60 by $0.52. M/I Homes had a return on equity of 20.50% and a net margin of 12.67%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned $4.12 earnings per share. On average, research analysts forecast that M/I Homes, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MHO shares. StockNews.com lowered M/I Homes from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Raymond James lifted their price target on M/I Homes from $200.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.