Empowered Funds LLC Purchases New Shares in M/I Homes, Inc. $MHO

Empowered Funds LLC acquired a new stake in M/I Homes, Inc. (NYSE:MHO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,247 shares of the construction company’s stock, valued at approximately $1,969,000.

A number of other large investors have also modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new stake in shares of M/I Homes during the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC increased its stake in shares of M/I Homes by 90.6% in 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. Langley Wealth Management LLC purchased a new position in shares of M/I Homes in the 2nd quarter valued at about $45,000. Aster Capital Management DIFC Ltd acquired a new position in M/I Homes in the 4th quarter worth about $49,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in 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 purchasing an additional 458 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity at M/I Homes

In other news, CFO Phillip Creek sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the transaction, the chief financial officer owned 30,918 shares in the company, valued at $4,624,096.08. This trade represents a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.60% of the stock is owned by insiders.

M/I Homes Stock Up 0.4%

MHO stock opened at $147.43 on Friday. 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 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The firm has a 50-day simple moving average of $150.92 and a 200-day simple moving average of $139.22. The stock has a market capitalization of $3.73 billion, a P/E ratio of 12.41 and a beta of 1.61.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results 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. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $4.42 EPS. M/I Homes’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities analysts forecast that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

M/I Homes Company Profile

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.