Old North State Wealth Management LLC Sells 1,740 Shares of M/I Homes, Inc. $MHO

Old North State Wealth Management LLC lowered its stake in M/I Homes, Inc. (NYSE:MHO) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,516 shares of the construction company’s stock after selling 1,740 shares during the period. M/I Homes comprises 2.6% of Old North State Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. Old North State Wealth Management LLC owned approximately 0.17% of M/I Homes worth $4,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp raised its position in M/I Homes by 38.3% in the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company’s stock valued at $43,000 after purchasing an additional 105 shares in the last quarter. Covestor Ltd raised its position in M/I Homes by 134.8% in the 1st quarter. Covestor Ltd now owns 655 shares of the construction company’s stock valued at $75,000 after purchasing an additional 376 shares in the last quarter. GAMMA Investing LLC raised its position in M/I Homes by 57.6% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company’s stock valued at $105,000 after purchasing an additional 336 shares in the last quarter. Strs Ohio acquired a new stake in M/I Homes in the 1st quarter valued at about $114,000. Finally, National Bank of Canada FI raised its position in M/I Homes by 36.1% in the 1st quarter. National Bank of Canada FI now owns 1,164 shares of the construction company’s stock valued at $133,000 after purchasing an additional 309 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MHO shares. Zacks Research upgraded M/I Homes to a “strong sell” rating in a report on Tuesday, August 12th. Zelman & Associates upgraded M/I Homes from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $162.50.

M/I Homes Trading Down 1.4%

NYSE:MHO opened at $143.39 on Friday. The stock’s 50 day moving average price is $139.44 and its 200 day moving average price is $120.74. The company has a market capitalization of $3.84 billion, a PE ratio of 7.87 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $176.18.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.43 by ($0.01). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.12 billion. M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The business’s revenue was up 4.8% on a year-over-year basis. On average, research analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes Profile

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.