Mitsubishi UFJ Trust & Banking Corp Has $2.56 Million Position in M/I Homes, Inc. $MHO

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 30.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,741 shares of the construction company’s stock after selling 7,901 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in M/I Homes were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its stake in shares of M/I Homes by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 86,704 shares of the construction company’s stock valued at $9,712,000 after buying an additional 235 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in shares of M/I Homes by 9.8% in the second quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock worth $157,909,000 after buying an additional 125,423 shares during the last quarter. Advantage Alpha Capital Partners LP bought a new stake in M/I Homes during the second quarter valued at about $3,066,000. American Century Companies Inc. boosted its stake in M/I Homes by 10.7% during the 2nd quarter. American Century Companies Inc. now owns 844,865 shares of the construction company’s stock valued at $94,726,000 after purchasing an additional 81,838 shares during the period. Finally, Edgestream Partners L.P. boosted its position in shares of M/I Homes by 95.5% in the second quarter. Edgestream Partners L.P. now owns 32,483 shares of the construction company’s stock valued at $3,642,000 after acquiring an additional 15,871 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MHO. Citizens Jmp started coverage on shares of M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a report on Friday. Raymond James Financial upped 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 report on Friday, October 24th. Finally, Citigroup reissued a “market outperform” rating on shares of M/I Homes in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, M/I Homes presently has an average rating of “Moderate Buy” and a consensus price target of $161.67.

M/I Homes Stock Down 1.7%

M/I Homes stock opened at $134.06 on Friday. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 9.11 and a beta of 1.75. The company’s 50 day simple moving average is $133.22 and its 200 day simple moving average is $134.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 7.54 and a quick ratio of 1.59. M/I Homes, Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $158.92.

M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the business posted $4.71 earnings per share. As a group, sell-side analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes announced that its Board of Directors has initiated a stock repurchase program on Wednesday, November 12th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.