M/I Homes, Inc. $MHO Shares Acquired by CW Advisors LLC

CW Advisors LLC lifted its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 84.1% during the second quarter, Holdings Channel reports. The firm owned 29,680 shares of the construction company’s stock after purchasing an additional 13,559 shares during the quarter. CW Advisors LLC’s holdings in M/I Homes were worth $3,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Millennium Management LLC raised its holdings in M/I Homes by 109.4% during the 1st quarter. Millennium Management LLC now owns 500,207 shares of the construction company’s stock worth $57,114,000 after buying an additional 261,381 shares during the period. Donald Smith & CO. Inc. boosted its holdings in shares of M/I Homes by 10.2% in the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company’s stock worth $146,489,000 after buying an additional 118,778 shares during the period. Nuveen LLC purchased a new position in shares of M/I Homes in the first quarter worth approximately $11,829,000. American Century Companies Inc. raised its holdings in shares of M/I Homes by 10.7% during the second quarter. American Century Companies Inc. now owns 844,865 shares of the construction company’s stock valued at $94,726,000 after acquiring an additional 81,838 shares during the period. Finally, Voss Capital LP purchased a new stake in shares of M/I Homes in the 1st quarter valued at approximately $4,838,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Zelman & Associates upgraded shares of M/I Homes from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 12th. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Raymond James Financial upped their price target on 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, Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $155.00.

M/I Homes Trading Down 0.7%

Shares of NYSE:MHO opened at $133.51 on Friday. The firm has a fifty day moving average of $133.25 and a two-hundred day moving average of $128.91. The company has a quick ratio of 1.59, a current ratio of 7.15 and a debt-to-equity ratio of 0.29. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $163.66. The firm has a market capitalization of $3.49 billion, a P/E ratio of 7.84 and a beta of 1.72.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, October 22nd. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.37 by ($0.45). The firm had revenue of $1.13 billion for 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 company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 12th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

M/I Homes Company 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.