Municipal Employees Retirement System of Michigan Takes $1.23 Million Position in M/I Homes Inc (NYSE:MHO)

Municipal Employees Retirement System of Michigan bought a new stake in shares of M/I Homes Inc (NYSE:MHO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 58,540 shares of the construction company’s stock, valued at approximately $1,231,000. Municipal Employees Retirement System of Michigan owned 0.21% of M/I Homes as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MHO. Bank of New York Mellon Corp raised its holdings in shares of M/I Homes by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 538,575 shares of the construction company’s stock worth $14,262,000 after buying an additional 3,352 shares during the period. Wells Fargo & Company MN raised its holdings in shares of M/I Homes by 6.7% in the third quarter. Wells Fargo & Company MN now owns 44,683 shares of the construction company’s stock worth $1,070,000 after buying an additional 2,794 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of M/I Homes by 37.6% in the third quarter. JPMorgan Chase & Co. now owns 61,662 shares of the construction company’s stock worth $1,476,000 after buying an additional 16,864 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of M/I Homes by 39.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 10,700 shares of the construction company’s stock worth $256,000 after buying an additional 3,000 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of M/I Homes by 12.2% in the third quarter. BlackRock Inc. now owns 4,828,502 shares of the construction company’s stock worth $115,547,000 after buying an additional 525,483 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

NYSE:MHO traded down $0.07 during midday trading on Monday, hitting $28.11. The stock had a trading volume of 77,700 shares, compared to its average volume of 222,878. M/I Homes Inc has a one year low of $20.34 and a one year high of $34.54. The stock has a market cap of $776.08 million, a P/E ratio of 6.98 and a beta of 1.15. The company has a quick ratio of 0.61, a current ratio of 5.95 and a debt-to-equity ratio of 0.96.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Tuesday, February 5th. The construction company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.09. M/I Homes had a return on equity of 14.23% and a net margin of 4.71%. The company had revenue of $722.50 million for the quarter, compared to analysts’ expectations of $684.59 million. During the same quarter in the prior year, the firm earned $1.11 earnings per share. M/I Homes’s revenue was up 16.2% compared to the same quarter last year. On average, sell-side analysts anticipate that M/I Homes Inc will post 3.83 EPS for the current fiscal year.

MHO has been the topic of several recent analyst reports. Zacks Investment Research downgraded M/I Homes from a “hold” rating to a “sell” rating in a report on Thursday, February 7th. Wedbush cut M/I Homes from an “outperform” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a research note on Wednesday, February 6th. JMP Securities cut M/I Homes from an “outperform” rating to a “market perform” rating and set a $30.00 price objective on the stock. in a research note on Wednesday, February 6th. They noted that the move was a valuation call. ValuEngine raised M/I Homes from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Finally, TheStreet raised M/I Homes from a “c” rating to a “b-” rating in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $29.50.

In other M/I Homes news, insider Ann Marie Hunker sold 10,600 shares of the stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $27.67, for a total transaction of $293,302.00. Following the sale, the insider now owns 2,600 shares of the company’s stock, valued at approximately $71,942. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Phillip G. Creek sold 27,620 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $27.01, for a total value of $746,016.20. Following the sale, the chief financial officer now directly owns 34,133 shares in the company, valued at approximately $921,932.33. The disclosure for this sale can be found here. Insiders have sold a total of 140,842 shares of company stock worth $3,811,138 in the last ninety days. Insiders own 3.90% of the company’s stock.

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M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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Institutional Ownership by Quarter for M/I Homes (NYSE:MHO)

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