Hennessy Advisors Inc. Has $30.22 Million Holdings in M/I Homes, Inc. $MHO

Hennessy Advisors Inc. cut its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 9.9% in the second quarter, Holdings Channel reports. The institutional investor owned 269,500 shares of the construction company’s stock after selling 29,700 shares during the quarter. M/I Homes accounts for about 1.0% of Hennessy Advisors Inc.’s portfolio, making the stock its 29th biggest holding. Hennessy Advisors Inc.’s holdings in M/I Homes were worth $30,216,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp raised its stake in shares of M/I Homes by 38.3% in the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company’s stock valued at $43,000 after purchasing an additional 105 shares in the last quarter. Covestor Ltd lifted its position in M/I Homes by 134.8% in the first quarter. Covestor Ltd now owns 655 shares of the construction company’s stock worth $75,000 after purchasing an additional 376 shares during the period. GAMMA Investing LLC lifted its position in M/I Homes by 57.6% in the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company’s stock worth $105,000 after purchasing an additional 336 shares during the period. Strs Ohio bought a new position in M/I Homes in the first quarter worth $114,000. Finally, National Bank of Canada FI lifted its position in M/I Homes by 36.1% in the first quarter. National Bank of Canada FI now owns 1,164 shares of the construction company’s stock worth $133,000 after purchasing an additional 309 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on MHO shares. Zelman & Associates raised M/I Homes from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 12th. Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $162.50.

M/I Homes Stock Performance

M/I Homes stock opened at $148.22 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78. The stock has a fifty day moving average price of $142.61 and a two-hundred day moving average price of $121.96. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $176.18. The firm has a market capitalization of $3.97 billion, a P/E ratio of 8.14 and a beta of 1.70.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.43 by ($0.01). M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

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.