New York State Common Retirement Fund Buys 7,381 Shares of M/I Homes, Inc. $MHO

New York State Common Retirement Fund lifted its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 87.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 15,808 shares of the construction company’s stock after acquiring an additional 7,381 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of M/I Homes worth $2,283,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its position in M/I Homes by 6.6% during the third quarter. SummerHaven Investment Management LLC now owns 7,010 shares of the construction company’s stock valued at $1,013,000 after purchasing an additional 434 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of M/I Homes by 7.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,276 shares of the construction company’s stock valued at $618,000 after buying an additional 309 shares in the last quarter. James Investment Research Inc. lifted its position in M/I Homes by 7.0% in the 3rd quarter. James Investment Research Inc. now owns 42,966 shares of the construction company’s stock worth $6,206,000 after buying an additional 2,807 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in M/I Homes in the third quarter worth approximately $240,000. Finally, Strs Ohio boosted its stake in M/I Homes by 11,550.0% in the third quarter. Strs Ohio now owns 69,900 shares of the construction company’s stock worth $10,096,000 after buying an additional 69,300 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

M/I Homes Stock Performance

Shares of NYSE:MHO opened at $142.15 on Monday. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 9.66 and a beta of 1.77. The company has a 50-day moving average price of $133.36 and a 200-day moving average price of $135.88. The company has a current ratio of 7.54, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $158.92.

M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.03. The company had revenue of $1.15 billion for 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%.M/I Homes’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $4.71 earnings per share. As a group, equities analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current year.

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

Analysts Set New Price Targets

MHO has been the subject of a number of recent research reports. Citigroup restated a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Citizens Jmp began coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price target for the company. Raymond James Financial raised their price objective on M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Finally, Zacks Research cut M/I Homes from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $161.67.

Insider Transactions at M/I Homes

In other M/I Homes news, insider Susan E. Krohne sold 5,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $134.28, for a total value of $671,400.00. Following the completion of the transaction, the insider directly owned 6,167 shares in the company, valued at approximately $828,104.76. This represents 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. Insiders own 3.70% of the company’s stock.

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.