Lazard Asset Management LLC Makes New $473,000 Investment in M/I Homes, Inc. $MHO

Lazard Asset Management LLC bought a new stake in M/I Homes, Inc. (NYSE:MHO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,861 shares of the construction company’s stock, valued at approximately $473,000.

Several other hedge funds also recently added to or reduced their stakes in MHO. Hilton Head Capital Partners LLC acquired a new stake in shares of M/I Homes in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of 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 period. Aster Capital Management DIFC Ltd acquired a new stake in M/I Homes during the 4th quarter valued at $49,000. CIBC Private Wealth Group LLC grew its holdings in M/I Homes by 53.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 475 shares of the construction company’s stock valued at $69,000 after purchasing an additional 166 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in M/I Homes by 1,090.5% during 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. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Price Performance

Shares of NYSE:MHO opened at $146.63 on Friday. The company has a market cap of $3.71 billion, a PE ratio of 12.34 and a beta of 1.60. M/I Homes, Inc. has a fifty-two week low of $116.78 and a fifty-two week high of $163.66. The firm has a 50-day simple moving average of $147.78 and a 200 day simple moving average of $137.43. The company has a quick ratio of 1.59, a current ratio of 7.65 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS 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 the consensus estimate of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.M/I Homes’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.42 earnings per share. On average, sell-side analysts anticipate that M/I Homes, Inc. will post 12.62 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. New Street Research set a $172.00 price objective on shares of M/I Homes in a research report on Tuesday. Zelman & Associates lowered M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. 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 Friday, May 15th. Finally, Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, M/I Homes presently has an average rating of “Moderate Buy” and an average target price of $164.25.

Insider Activity

In related news, CFO Phillip G. Creek sold 10,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at $4,677,275.04. The trade was a 24.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.60% of the company’s stock.

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.