Fisher Asset Management LLC Lowers Stake in M/I Homes, Inc. $MHO

Fisher Asset Management LLC lessened its stake in M/I Homes, Inc. (NYSE:MHO) by 62.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,975 shares of the construction company’s stock after selling 21,762 shares during the period. Fisher Asset Management LLC’s holdings in M/I Homes were worth $1,455,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MHO. Edgestream Partners L.P. boosted its position in shares of M/I Homes by 95.5% during the second quarter. Edgestream Partners L.P. now owns 32,483 shares of the construction company’s stock worth $3,642,000 after buying an additional 15,871 shares during the period. Hsbc Holdings PLC boosted its holdings in M/I Homes by 84.6% during the 2nd quarter. Hsbc Holdings PLC now owns 34,629 shares of the construction company’s stock valued at $3,891,000 after acquiring an additional 15,874 shares during the period. Advantage Alpha Capital Partners LP acquired a new position in M/I Homes in the 2nd quarter valued at about $3,066,000. Inceptionr LLC purchased a new stake in M/I Homes during the second quarter worth about $214,000. Finally, Summit Global Investments purchased a new stake in M/I Homes during the second quarter worth about $264,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

M/I Homes Price Performance

Shares of MHO opened at $133.51 on Friday. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $163.66. The firm’s fifty day simple moving average is $133.25 and its 200-day simple moving average is $128.78. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 7.84 and a beta of 1.72. The company has a current ratio of 7.15, a quick ratio of 1.59 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, October 22nd. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.37 by ($0.45). M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.