Northern Trust Corp Buys 26,820 Shares of M/I Homes, Inc. (NYSE:MHO)

Northern Trust Corp boosted its stake in M/I Homes, Inc. (NYSE:MHO) by 8.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 347,000 shares of the construction company’s stock after purchasing an additional 26,820 shares during the quarter. Northern Trust Corp owned about 1.25% of M/I Homes worth $46,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of M/I Homes by 45.7% in the 3rd quarter. Barclays PLC now owns 126,577 shares of the construction company’s stock valued at $21,690,000 after acquiring an additional 39,711 shares during the period. Nordea Investment Management AB boosted its position in shares of M/I Homes by 3.6% during the fourth quarter. Nordea Investment Management AB now owns 85,309 shares of the construction company’s stock worth $11,379,000 after purchasing an additional 2,971 shares in the last quarter. West Oak Capital LLC grew its holdings in shares of M/I Homes by 4,865.0% in the 4th quarter. West Oak Capital LLC now owns 4,965 shares of the construction company’s stock valued at $660,000 after buying an additional 4,865 shares during the period. Burney Co. bought a new stake in shares of M/I Homes in the 4th quarter valued at $476,000. Finally, Hennessy Advisors Inc. acquired a new stake in M/I Homes during the 4th quarter worth $43,674,000. Institutional investors own 95.14% of the company’s stock.

M/I Homes Stock Performance

Shares of M/I Homes stock opened at $110.74 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.65 and a quick ratio of 1.93. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 5.62 and a beta of 1.75. The stock’s 50-day moving average is $111.78 and its 200-day moving average is $130.94. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $176.18.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, April 23rd. The construction company reported $3.98 EPS for the quarter, missing the consensus estimate of $4.16 by ($0.18). The firm had revenue of $976.09 million during the quarter, compared to the consensus estimate of $1.12 billion. M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. The company’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.78 EPS. Equities analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Seaport Res Ptn upgraded M/I Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. StockNews.com cut M/I Homes from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Finally, Raymond James dropped their target price on shares of M/I Homes from $168.00 to $140.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 29th.

About M/I Homes

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.