Massachusetts Financial Services Co. MA Cuts Stake in M/I Homes, Inc. $MHO

Massachusetts Financial Services Co. MA lowered its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 255,863 shares of the construction company’s stock after selling 9,157 shares during the period. Massachusetts Financial Services Co. MA’s holdings in M/I Homes were worth $32,738,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MHO. Junto Capital Management LP purchased a new stake in shares of M/I Homes during the third quarter worth about $35,871,000. Invesco Ltd. grew its position in shares of M/I Homes by 116.4% during the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after purchasing an additional 161,881 shares in the last quarter. Gradient Investments LLC grew its position in shares of M/I Homes by 689.4% during the fourth quarter. Gradient Investments LLC now owns 114,773 shares of the construction company’s stock worth $14,685,000 after purchasing an additional 100,233 shares in the last quarter. Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of M/I Homes during the third quarter worth about $13,315,000. Finally, American Century Companies Inc. grew its position in shares of M/I Homes by 10.9% during the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock worth $135,282,000 after purchasing an additional 91,732 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Transactions at M/I Homes

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

M/I Homes Price Performance

Shares of M/I Homes stock opened at $120.67 on Thursday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 8.20 and a beta of 1.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12. The stock has a 50 day moving average price of $132.47 and a 200-day moving average price of $132.82. M/I Homes, Inc. has a one year low of $102.44 and a one year high of $158.92.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.03. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.71 EPS. Equities analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on MHO. Citizens Jmp began coverage on M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 target price for the company. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Oppenheimer set a $165.00 price target on M/I Homes in a 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, Seaport Research Partners restated a “neutral” rating on shares of M/I Homes in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, 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.