Teacher Retirement System of Texas Has $5.47 Million Holdings in M/I Homes, Inc. $MHO

Teacher Retirement System of Texas trimmed its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 29.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,871 shares of the construction company’s stock after selling 15,508 shares during the quarter. Teacher Retirement System of Texas’ holdings in M/I Homes were worth $5,470,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in M/I Homes by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 86,704 shares of the construction company’s stock worth $9,712,000 after purchasing an additional 235 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in shares of M/I Homes by 9.8% in the second quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock worth $157,909,000 after buying an additional 125,423 shares during the last quarter. Advantage Alpha Capital Partners LP bought a new stake in shares of M/I Homes during the 2nd quarter worth $3,066,000. American Century Companies Inc. grew its stake in M/I Homes by 10.7% in the 2nd quarter. American Century Companies Inc. now owns 844,865 shares of the construction company’s stock valued at $94,726,000 after buying an additional 81,838 shares during the last quarter. Finally, Edgestream Partners L.P. grew its stake in M/I Homes by 95.5% in the 2nd quarter. Edgestream Partners L.P. now owns 32,483 shares of the construction company’s stock valued at $3,642,000 after buying an additional 15,871 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MHO. Raymond James Financial upped their price target on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday. Citizens Jmp started coverage on M/I Homes in a report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price target for the company. Finally, Citigroup started coverage on M/I Homes in a research report on Wednesday, January 7th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, M/I Homes has a consensus rating of “Moderate Buy” and a consensus price target of $160.00.

M/I Homes Trading Up 0.6%

M/I Homes stock opened at $134.28 on Tuesday. The business has a 50 day moving average price of $132.66 and a two-hundred day moving average price of $134.75. The company has a quick ratio of 1.59, a current ratio of 7.15 and a debt-to-equity ratio of 0.29. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $158.92. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 7.89 and a beta of 1.75.

M/I Homes announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.