Fifth Third Bancorp Acquires 10,299 Shares of M/I Homes, Inc. $MHO

Fifth Third Bancorp grew its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 5,254.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,495 shares of the construction company’s stock after purchasing an additional 10,299 shares during the quarter. Fifth Third Bancorp’s holdings in M/I Homes were worth $1,285,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC purchased a new position in shares of M/I Homes during the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its position in M/I Homes by 90.6% during the 2nd 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 in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of M/I Homes in the 4th quarter worth $49,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of M/I Homes by 1,090.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock worth $64,000 after buying an additional 458 shares during the period. Finally, WealthCollab LLC lifted its holdings in shares of M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock worth $69,000 after buying an additional 87 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MHO shares. Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a report on Friday, May 15th. Zelman & Associates downgraded shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Freedom Capital raised shares of M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Seaport Research Partners restated a “neutral” rating on shares of M/I Homes in a report on Tuesday, April 7th. Finally, Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

M/I Homes Trading Up 2.0%

NYSE:MHO opened at $149.76 on Friday. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 11.28 and a beta of 1.60. M/I Homes, Inc. has a 52 week low of $116.78 and a 52 week high of $163.66. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $144.06 and a 200 day moving average of $136.46.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.09). The firm had revenue of $920.71 million during the quarter, compared to analysts’ expectations of $1.18 billion. M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.M/I Homes’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 earnings per share. As a group, sell-side analysts anticipate that M/I Homes, Inc. will post 12.6 earnings per share for the current fiscal year.

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.