Robert Schottenstein Sells 20,000 Shares of M/I Homes (NYSE:MHO) Stock

M/I Homes, Inc. (NYSE:MHO) CEO Robert Schottenstein sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $144.47, for a total transaction of $2,889,400.00. Following the completion of the sale, the chief executive officer directly owned 313,874 shares in the company, valued at $45,345,376.78. This trade represents a 5.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

M/I Homes Price Performance

Shares of M/I Homes stock opened at $146.45 on Friday. The firm has a market cap of $3.83 billion, a P/E ratio of 9.96 and a beta of 1.77. The firm’s 50-day simple moving average is $134.04 and its 200-day simple moving average is $136.32. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $158.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 7.54.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.03. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.71 earnings per share. As a group, research 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 approved a stock buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On M/I Homes

Institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB raised its position in shares of M/I Homes by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 86,704 shares of the construction company’s stock valued at $9,712,000 after acquiring an additional 235 shares during the period. Donald Smith & CO. Inc. increased its stake in M/I Homes by 9.8% in the second quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock valued at $157,909,000 after purchasing an additional 125,423 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in M/I Homes in the second quarter worth $3,066,000. American Century Companies Inc. boosted its position 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 worth $94,726,000 after purchasing an additional 81,838 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of M/I Homes by 95.5% in the 2nd quarter. Edgestream Partners L.P. now owns 32,483 shares of the construction company’s stock valued at $3,642,000 after buying an additional 15,871 shares during the period. 95.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup reissued a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Citizens Jmp assumed coverage on shares of M/I Homes in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price target on the stock. Raymond James Financial upped their price objective on shares of M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, M/I Homes currently has a consensus rating of “Moderate Buy” and an average target price of $161.67.

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.