First Eagle Investment Management LLC Takes $4.13 Million Position in M/I Homes, Inc. $MHO

First Eagle Investment Management LLC acquired a new stake in shares of M/I Homes, Inc. (NYSE:MHO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 28,605 shares of the construction company’s stock, valued at approximately $4,132,000. First Eagle Investment Management LLC owned about 0.11% of M/I Homes as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MHO. Royal Bank of Canada lifted its holdings in M/I Homes by 46.3% in the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock valued at $3,400,000 after purchasing an additional 9,422 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of M/I Homes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company’s stock valued at $1,812,000 after buying an additional 703 shares during the last quarter. United Services Automobile Association purchased a new position in shares of M/I Homes during the first quarter valued at approximately $205,000. Strs Ohio acquired a new stake in M/I Homes during the first quarter worth approximately $114,000. Finally, Bank of Montreal Can grew its stake in M/I Homes by 1.8% in the 2nd quarter. Bank of Montreal Can now owns 6,295 shares of the construction company’s stock worth $706,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

M/I Homes Stock Up 1.4%

Shares of NYSE:MHO opened at $144.22 on Thursday. The stock has a 50-day simple moving average of $137.34 and a 200-day simple moving average of $137.68. The stock has a market capitalization of $3.72 billion, a P/E ratio of 9.80 and a beta of 1.77. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $158.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.03. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company posted $4.71 earnings per share. M/I Homes’s revenue was down 4.9% compared to the same quarter last year. Equities analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current 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 repurchase $250.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 8,616 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the completion of the sale, the chief financial officer directly owned 45,815 shares of the company’s stock, valued at approximately $6,725,642. This represents a 15.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan E. Krohne sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $134.28, for a total value of $671,400.00. Following the completion of the transaction, the insider directly owned 6,167 shares in the company, valued at $828,104.76. This trade represents a 44.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 49,213 shares of company stock worth $7,115,268. 3.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MHO has been the subject of several analyst reports. Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Oppenheimer set a $165.00 target price on M/I Homes in a research note on Friday, January 30th. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a report on Thursday, January 22nd. Finally, Citizens Jmp started coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.67.

M/I Homes Company Profile

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.