Cramer Rosenthal Mcglynn LLC Makes New $13.32 Million Investment in M/I Homes, Inc. $MHO

Cramer Rosenthal Mcglynn LLC acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO) in the 3rd quarter, HoldingsChannel reports. The firm acquired 92,183 shares of the construction company’s stock, valued at approximately $13,315,000.

A number of other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in shares of M/I Homes by 73.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after acquiring an additional 87 shares in the last quarter. WealthCollab LLC raised its position in M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock valued at $69,000 after purchasing an additional 87 shares during the last quarter. SkyOak Wealth LLC boosted its stake in M/I Homes by 3.8% in the third quarter. SkyOak Wealth LLC now owns 2,445 shares of the construction company’s stock worth $353,000 after purchasing an additional 90 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in M/I Homes by 4.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,983 shares of the construction company’s stock worth $286,000 after purchasing an additional 93 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of M/I Homes by 1.4% during the third quarter. Arizona State Retirement System now owns 7,925 shares of the construction company’s stock worth $1,145,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MHO. Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Citizens Jmp assumed coverage on shares of 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. Oppenheimer set a $165.00 price target on shares of M/I Homes in a research note on Friday, January 30th. Finally, Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. One investment 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 company has an average rating of “Moderate Buy” and a consensus target price of $161.67.

Insiders Place Their Bets

In related news, insider Susan E. Krohne sold 491 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 $72,078.80. Following the completion of the sale, the insider directly owned 8,771 shares of the company’s stock, valued at approximately $1,287,582.80. This represents a 5.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert H. Schottenstein sold 14,974 shares of the firm’s 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 sale, the chief executive officer owned 348,513 shares in the company, valued at $51,161,708.40. This trade represents a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,213 shares of company stock worth $7,115,268 over the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

M/I Homes Stock Down 4.0%

Shares of NYSE:MHO opened at $138.08 on Friday. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $158.92. The company has a market capitalization of $3.56 billion, a PE ratio of 9.39 and a beta of 1.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12. The company has a 50 day moving average price of $137.52 and a two-hundred day moving average price of $137.68.

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

M/I Homes announced that its board has approved a stock 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 purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.