Palisade Capital Management LP purchased a new position in M/I Homes, Inc. (NYSE:MHO – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,679 shares of the construction company’s stock, valued at approximately $3,003,000. Palisade Capital Management LP owned 0.07% of M/I Homes at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in MHO. NewEdge Wealth LLC bought a new position in shares of M/I Homes during the second quarter worth $1,976,000. Verity Asset Management Inc. bought a new stake in M/I Homes in the 4th quarter valued at $1,074,000. Militia Capital Management LLC bought a new stake in M/I Homes in the 1st quarter valued at $2,816,000. First Eagle Investment Management LLC lifted its stake in M/I Homes by 110.1% in the 4th quarter. First Eagle Investment Management LLC now owns 60,100 shares of the construction company’s stock worth $7,690,000 after purchasing an additional 31,495 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in M/I Homes by 28.3% in the 1st quarter. California State Teachers Retirement System now owns 32,103 shares of the construction company’s stock worth $3,931,000 after purchasing an additional 7,086 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on MHO shares. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. New Street Research set a $172.00 target price on M/I Homes in a research report on Tuesday, August 4th. Zelman & Associates lowered M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, M/I Homes currently has an average rating of “Moderate Buy” and a consensus target price of $164.25.
Insider Buying and Selling
In related news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,624,096.08. This trade represents a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company’s stock.
M/I Homes Price Performance
MHO stock opened at $154.22 on Wednesday. M/I Homes, Inc. has a 52 week low of $116.78 and a 52 week high of $163.66. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $151.17 and a two-hundred day simple moving average of $138.99. The firm has a market capitalization of $3.90 billion, a P/E ratio of 12.98 and a beta of 1.60.
M/I Homes (NYSE:MHO – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the company posted $4.42 EPS. The business’s revenue was down 6.0% on a year-over-year basis. Analysts anticipate that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.
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.
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