M/I Homes, Inc. $MHO Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in M/I Homes, Inc. (NYSE:MHO) by 51.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,794 shares of the construction company’s stock after selling 4,077 shares during the quarter. Maryland State Retirement & Pension System’s holdings in M/I Homes were worth $548,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC purchased a new position in shares of M/I Homes in the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its position in 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 buying an additional 135 shares during the period. Private Trust Co. NA acquired a new position in shares of M/I Homes in the third quarter worth $38,000. Nomura Asset Management Co. Ltd. grew its stake in shares of M/I Homes by 58.6% in the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock worth $52,000 after acquiring an additional 170 shares in the last quarter. Finally, WealthCollab LLC increased its position in shares of M/I Homes by 16.5% during the second quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock worth $69,000 after acquiring an additional 87 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

M/I Homes Trading Down 1.9%

MHO opened at $135.67 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.59 and a current ratio of 7.15. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $158.92. The company has a market cap of $3.55 billion, a P/E ratio of 7.97 and a beta of 1.75. The business’s 50-day simple moving average is $132.36 and its 200-day simple moving average is $134.25.

M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, October 22nd. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.37 by ($0.45). The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MHO. Citizens Jmp assumed coverage on M/I Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 target price for the company. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research note on Wednesday, October 8th. Raymond James Financial lifted their price target on shares of M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 24th. Finally, Citigroup began coverage on shares of M/I Homes in a report on Wednesday, January 7th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $160.00.

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.