M/I Homes (NYSE:MHO) Hits New 12-Month High at $177.99

Shares of M/I Homes, Inc. (NYSE:MHO) hit a new 52-week high during trading on Tuesday . The stock traded as high as $177.99 and last traded at $177.99, with a volume of 645 shares. The stock had previously closed at $170.70.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Raymond James raised their price objective on M/I Homes from $200.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com lowered M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 19th.

M/I Homes Stock Up 0.7 %

The firm has a market cap of $4.77 billion, a P/E ratio of 9.84 and a beta of 2.23. The company’s 50-day simple moving average is $155.90 and its 200 day simple moving average is $134.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.62 and a quick ratio of 1.76.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business posted $4.12 earnings per share. Research analysts anticipate that M/I Homes, Inc. will post 19.76 EPS for the current fiscal year.

Insider Transactions at M/I Homes

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

Hedge Funds Weigh In On M/I Homes

A number of hedge funds have recently added to or reduced their stakes in MHO. Vanguard Group Inc. grew its stake in M/I Homes by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,096,407 shares of the construction company’s stock worth $285,719,000 after purchasing an additional 39,542 shares in the last quarter. Westfield Capital Management Co. LP grew its position in shares of M/I Homes by 3.0% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,219,989 shares of the construction company’s stock worth $166,272,000 after buying an additional 35,558 shares in the last quarter. American Century Companies Inc. increased its stake in shares of M/I Homes by 7.7% during the second quarter. American Century Companies Inc. now owns 703,983 shares of the construction company’s stock valued at $85,984,000 after buying an additional 50,330 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of M/I Homes by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 262,373 shares of the construction company’s stock valued at $32,046,000 after acquiring an additional 13,782 shares in the last quarter. Finally, Basswood Capital Management L.L.C. raised its holdings in shares of M/I Homes by 6.8% in the fourth quarter. Basswood Capital Management L.L.C. now owns 259,349 shares of the construction company’s stock valued at $35,723,000 after acquiring an additional 16,608 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

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.