JPMorgan Chase & Co. Has $38.51 Million Stake in M/I Homes, Inc. $MHO

JPMorgan Chase & Co. increased its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 26.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 266,582 shares of the construction company’s stock after buying an additional 55,206 shares during the quarter. JPMorgan Chase & Co.’s holdings in M/I Homes were worth $38,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of M/I Homes by 46.3% during the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock valued at $3,400,000 after acquiring an additional 9,422 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in M/I Homes by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company’s stock worth $1,812,000 after buying an additional 703 shares in the last quarter. United Services Automobile Association acquired a new stake in M/I Homes during the first quarter worth about $205,000. Strs Ohio bought a new position in M/I Homes in the 1st quarter valued at about $114,000. Finally, State of New Jersey Common Pension Fund D raised its position in shares of M/I Homes by 6.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 17,718 shares of the construction company’s stock valued at $1,987,000 after buying an additional 1,060 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

M/I Homes Stock Up 0.7%

Shares of MHO opened at $142.10 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $158.92. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 9.66 and a beta of 1.77. The stock has a fifty day moving average of $136.45 and a 200-day moving average of $137.69.

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

M/I Homes announced that its board has approved a share repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, CFO Phillip G. Creek sold 8,616 shares of M/I Homes stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the transaction, the chief financial officer owned 45,815 shares in the company, valued at approximately $6,725,642. The trade was a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan E. Krohne sold 491 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $72,078.80. Following the completion of the sale, the insider directly owned 8,771 shares in the company, valued at approximately $1,287,582.80. This represents a 5.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,213 shares of company stock worth $7,115,268 in the last ninety days. Company insiders own 3.50% of the company’s stock.

M/I Homes 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.