M/I Homes, Inc. $MHO is Donald Smith & CO. Inc.’s 5th Largest Position

Donald Smith & CO. Inc. lifted its position in shares of M/I Homes, Inc. (NYSE:MHO) by 9.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,408,390 shares of the construction company’s stock after acquiring an additional 125,423 shares during the quarter. M/I Homes accounts for about 3.7% of Donald Smith & CO. Inc.’s holdings, making the stock its 5th biggest position. Donald Smith & CO. Inc. owned about 0.05% of M/I Homes worth $157,909,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after purchasing an additional 135 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in M/I Homes by 58.6% in the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock valued at $52,000 after purchasing an additional 170 shares during the last quarter. Covestor Ltd increased its position in shares of M/I Homes by 134.8% in the first quarter. Covestor Ltd now owns 655 shares of the construction company’s stock valued at $75,000 after buying an additional 376 shares in the last quarter. Strs Ohio purchased a new position in shares of M/I Homes in the first quarter valued at $114,000. Finally, National Bank of Canada FI raised its stake in shares of M/I Homes by 36.1% during the 1st quarter. National Bank of Canada FI now owns 1,164 shares of the construction company’s stock worth $133,000 after buying an additional 309 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on MHO. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research note on Wednesday, October 8th. Zelman & Associates raised shares of M/I Homes from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. Raymond James Financial increased their price target on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Friday, October 24th. Finally, Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $155.00.

M/I Homes Stock Performance

NYSE:MHO opened at $133.51 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.15 and a quick ratio of 1.59. The firm has a market cap of $3.49 billion, a PE ratio of 7.84 and a beta of 1.72. The firm has a 50 day simple moving average of $133.25 and a 200-day simple moving average of $128.91. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $163.66.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, October 22nd. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.37 by ($0.45). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes declared that its board has approved a stock buyback plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

M/I Homes Profile

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.