M/I Homes, Inc. $MHO Stock Position Boosted by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. raised its position in shares of M/I Homes, Inc. (NYSE:MHO) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,408,390 shares of the construction company’s stock after buying an additional 125,423 shares during the quarter. M/I Homes comprises about 3.7% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 5th largest holding. Donald Smith & CO. Inc. owned approximately 5.26% of M/I Homes worth $157,909,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MHO. EverSource Wealth Advisors LLC raised its stake in shares of M/I Homes by 90.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after acquiring an additional 135 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of M/I Homes by 58.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock valued at $52,000 after purchasing an additional 170 shares during the last quarter. Covestor Ltd boosted its stake in M/I Homes by 134.8% in the 1st quarter. Covestor Ltd now owns 655 shares of the construction company’s stock worth $75,000 after purchasing an additional 376 shares in the last quarter. Strs Ohio purchased a new stake in M/I Homes during the 1st quarter worth approximately $114,000. Finally, National Bank of Canada FI grew its position in M/I Homes by 36.1% during the 1st quarter. National Bank of Canada FI now owns 1,164 shares of the construction company’s stock worth $133,000 after purchasing an additional 309 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

M/I Homes Stock Down 0.7%

Shares of NYSE MHO opened at $133.51 on Friday. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $163.66. The company’s 50-day simple moving average is $133.25 and its 200-day simple moving average is $128.91. The company has a quick ratio of 1.59, a current ratio of 7.15 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 7.84 and a beta of 1.72.

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

M/I Homes declared that its Board of Directors has initiated a share 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 purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

About M/I Homes

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.