Grantham Mayo Van Otterloo & Co. LLC Buys 3,941 Shares of M/I Homes, Inc. $MHO

Grantham Mayo Van Otterloo & Co. LLC boosted its stake in M/I Homes, Inc. (NYSE:MHO) by 57.4% during the 3rd quarter, Holdings Channel reports. The firm owned 10,806 shares of the construction company’s stock after buying an additional 3,941 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in M/I Homes were worth $1,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Donald Smith & CO. Inc. grew its position in shares of M/I Homes by 9.8% during the second quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock valued at $157,909,000 after purchasing an additional 125,423 shares in the last quarter. Long Pond Capital LP purchased a new stake in shares of M/I Homes in the second quarter worth about $13,694,000. Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of M/I Homes in the third quarter worth about $13,315,000. 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 valued at $135,282,000 after buying an additional 91,732 shares during the last quarter. Finally, Voss Capital LP boosted its stake in M/I Homes by 195.0% during the second quarter. Voss Capital LP now owns 125,000 shares of the construction company’s stock valued at $14,015,000 after buying an additional 82,625 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

MHO has been the topic of a number of research reports. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Citigroup reissued 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 initiated coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price target on the stock. Finally, Oppenheimer set a $165.00 price objective on shares of M/I Homes in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.67.

Insider Buying and Selling

In other M/I Homes news, CEO Robert H. Schottenstein sold 14,974 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the transaction, the chief executive officer owned 348,513 shares in the company, valued at $51,161,708.40. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Susan E. Krohne sold 491 shares of the stock in a transaction on Thursday, February 12th. The shares were 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 sold a total of 49,213 shares of company stock worth $7,115,268 over the last three months. 3.70% of the stock is owned by insiders.

M/I Homes Trading Down 0.8%

Shares of MHO stock opened at $132.82 on Wednesday. The company has a market cap of $3.42 billion, a PE ratio of 9.03 and a beta of 1.77. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $158.92. The stock’s 50 day simple moving average is $137.85 and its two-hundred day simple moving average is $137.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.12 and a quick ratio of 1.86.

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

M/I Homes declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 12th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.