Arrowstreet Capital Limited Partnership Trims Stock Position in M/I Homes, Inc. (NYSE:MHO)

Arrowstreet Capital Limited Partnership lessened its holdings in M/I Homes, Inc. (NYSE:MHO) by 78.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 110,183 shares of the construction company’s stock after selling 394,418 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in M/I Homes were worth $14,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hennessy Advisors Inc. purchased a new stake in shares of M/I Homes in the 4th quarter worth approximately $43,674,000. Royce & Associates LP grew its stake in shares of M/I Homes by 42.5% in the fourth quarter. Royce & Associates LP now owns 274,871 shares of the construction company’s stock worth $36,544,000 after acquiring an additional 81,964 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of M/I Homes during the fourth quarter valued at $10,672,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of M/I Homes by 129.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 124,546 shares of the construction company’s stock worth $21,342,000 after purchasing an additional 70,278 shares during the last quarter. Finally, Barclays PLC boosted its stake in M/I Homes by 45.7% in the 3rd quarter. Barclays PLC now owns 126,577 shares of the construction company’s stock worth $21,690,000 after purchasing an additional 39,711 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

M/I Homes Stock Performance

Shares of NYSE MHO opened at $114.01 on Friday. The firm’s 50-day moving average price is $118.94 and its 200-day moving average price is $141.61. M/I Homes, Inc. has a 52-week low of $105.00 and a 52-week high of $176.18. The company has a market cap of $3.09 billion, a PE ratio of 5.78 and a beta of 2.31. The company has a quick ratio of 1.93, a current ratio of 7.65 and a debt-to-equity ratio of 0.33.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, January 29th. The construction company reported $4.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.96 by ($0.25). M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. As a group, analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of M/I Homes from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Seaport Res Ptn upgraded shares of M/I Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, Raymond James reiterated a “strong-buy” rating and set a $168.00 target price (down from $210.00) on shares of M/I Homes in a research note on Thursday, January 30th.

M/I Homes Profile

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.