136,364 Shares in M/I Homes, Inc. $MHO Acquired by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. purchased a new position in shares of M/I Homes, Inc. (NYSE:MHO) in the second quarter, Holdings Channel reports. The fund purchased 136,364 shares of the construction company’s stock, valued at approximately $21,926,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of M/I Homes by 46.3% in the first quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock worth $3,400,000 after acquiring an additional 9,422 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $1,812,000 after purchasing an additional 703 shares during the period. United Services Automobile Association acquired a new position in M/I Homes during the first quarter valued at $205,000. Strs Ohio purchased a new stake in M/I Homes in the first quarter valued at $114,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after purchasing an additional 135 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Stock Performance

Shares of NYSE MHO opened at $152.01 on Thursday. The company has a market capitalization of $3.84 billion, a PE ratio of 12.80 and a beta of 1.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. The company’s fifty day moving average price is $151.35 and its 200 day moving average price is $139.07. M/I Homes, Inc. has a 1 year low of $116.78 and a 1 year high of $163.66.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.01. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.42 earnings per share. On average, research analysts predict that M/I Homes, Inc. will post 12.62 earnings per share for the current year.

Insider Activity at M/I Homes

In other news, CFO Phillip G. Creek sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the sale, the chief financial officer directly owned 30,918 shares in the company, valued at $4,677,275.04. This trade represents a 24.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MHO. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. Freedom Capital raised M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. New Street Research set a $172.00 price target on M/I Homes in a research report on Tuesday, August 4th. Finally, Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.25.

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.