Barclays PLC Has $21.64 Million Stock Holdings in M/I Homes, Inc. $MHO

Barclays PLC lowered its stake in M/I Homes, Inc. (NYSE:MHO) by 22.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,829 shares of the construction company’s stock after selling 43,670 shares during the quarter. Barclays PLC owned approximately 0.57% of M/I Homes worth $21,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MHO. First Eagle Investment Management LLC acquired a new stake in shares of M/I Homes during the 3rd quarter worth approximately $4,132,000. Segall Bryant & Hamill LLC acquired a new position in shares of M/I Homes during the 3rd quarter valued at $3,401,000. Rafferty Asset Management LLC boosted its stake in M/I Homes by 83.2% during the third quarter. Rafferty Asset Management LLC now owns 39,831 shares of the construction company’s stock worth $5,753,000 after acquiring an additional 18,095 shares in the last quarter. American Century Companies Inc. boosted its stake in M/I Homes by 10.9% during the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock worth $135,282,000 after acquiring an additional 91,732 shares in the last quarter. Finally, Huntington National Bank grew its holdings in M/I Homes by 1.4% in the third quarter. Huntington National Bank now owns 16,567 shares of the construction company’s stock worth $2,393,000 after purchasing an additional 231 shares during the period. 95.14% of the stock is owned by institutional investors.

M/I Homes Stock Performance

Shares of M/I Homes stock opened at $129.97 on Thursday. The business’s fifty day simple moving average is $137.89 and its 200 day simple moving average is $137.40. The company has a current ratio of 8.12, a quick ratio of 1.86 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. The firm has a market capitalization of $3.35 billion, a P/E ratio of 8.84 and a beta of 1.77.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.03. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $4.71 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes declared that its board has approved 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 purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on MHO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Oppenheimer set a $165.00 price objective on M/I Homes in a research note on Friday, January 30th. Citigroup restated a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Citizens Jmp assumed coverage on M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 target price on the stock. Finally, Zacks Research cut M/I Homes from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $161.67.

Insider Activity at M/I Homes

In other news, CFO Phillip G. Creek sold 8,616 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the sale, the chief financial officer directly owned 45,815 shares of the company’s stock, valued at approximately $6,725,642. This represents a 15.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert H. Schottenstein sold 14,974 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the completion of the sale, the chief executive officer owned 348,513 shares in the company, valued at $51,161,708.40. This represents a 4.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 49,213 shares of company stock worth $7,115,268. 3.50% of the stock is owned by company insiders.

M/I Homes Company Profile

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.