Edgestream Partners L.P. Acquires 15,871 Shares of M/I Homes, Inc. $MHO

Edgestream Partners L.P. increased its holdings in M/I Homes, Inc. (NYSE:MHO) by 95.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,483 shares of the construction company’s stock after purchasing an additional 15,871 shares during the period. Edgestream Partners L.P. owned approximately 0.12% of M/I Homes worth $3,642,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MHO. Nordea Investment Management AB lifted its position in M/I Homes by 0.3% in the second quarter. Nordea Investment Management AB now owns 86,704 shares of the construction company’s stock valued at $9,712,000 after purchasing an additional 235 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of M/I Homes by 9.3% in the first quarter. Intech Investment Management LLC now owns 21,970 shares of the construction company’s stock worth $2,509,000 after buying an additional 1,861 shares during the period. Harbor Capital Advisors Inc. raised its holdings in M/I Homes by 29.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,652 shares of the construction company’s stock valued at $858,000 after buying an additional 1,750 shares during the last quarter. Gradient Investments LLC purchased a new stake in M/I Homes during the 2nd quarter valued at $1,855,000. Finally, American Century Companies Inc. boosted its position in M/I Homes by 10.7% during the 2nd quarter. American Century Companies Inc. now owns 844,865 shares of the construction company’s stock valued at $94,726,000 after buying an additional 81,838 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Price Performance

MHO stock opened at $137.68 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.15 and a quick ratio of 1.59. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $167.29. The firm has a 50-day moving average of $133.68 and a 200 day moving average of $128.58. The company has a market cap of $3.60 billion, a P/E ratio of 8.08 and a beta of 1.72.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, October 22nd. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.37 by ($0.45). M/I Homes had a net margin of 10.56% and a return on equity of 15.72%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, sell-side analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes declared that its board has initiated a share repurchase program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MHO has been the topic of a number of analyst reports. Raymond James Financial boosted their price objective on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Friday, October 24th. Zelman & Associates upgraded M/I Homes from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, M/I Homes currently has an average rating of “Buy” and an average target price of $155.00.

M/I Homes Company 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.