Intech Investment Management LLC Sells 3,287 Shares of M/I Homes, Inc. $MHO

Intech Investment Management LLC decreased its position in M/I Homes, Inc. (NYSE:MHO) by 15.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 18,683 shares of the construction company’s stock after selling 3,287 shares during the quarter. Intech Investment Management LLC’s holdings in M/I Homes were worth $2,095,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MHO. KLP Kapitalforvaltning AS boosted its stake in shares of M/I Homes by 1.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,800 shares of the construction company’s stock worth $875,000 after buying an additional 100 shares during the last quarter. Bank of Montreal Can increased its position in shares of M/I Homes by 1.8% in the second quarter. Bank of Montreal Can now owns 6,295 shares of the construction company’s stock valued at $706,000 after acquiring an additional 113 shares during the last quarter. Journey Strategic Wealth LLC raised its holdings in M/I Homes by 4.8% during the first quarter. Journey Strategic Wealth LLC now owns 2,705 shares of the construction company’s stock worth $309,000 after acquiring an additional 125 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in M/I Homes by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 6,576 shares of the construction company’s stock valued at $737,000 after purchasing an additional 133 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in M/I Homes by 10.7% during the second quarter. PNC Financial Services Group Inc. now owns 1,515 shares of the construction company’s stock valued at $170,000 after purchasing an additional 146 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MHO has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research note on Wednesday, October 8th. Zelman & Associates upgraded shares of M/I Homes from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 12th. Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Raymond James Financial upped their target price on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $155.00.

M/I Homes Price Performance

NYSE:MHO opened at $124.46 on Friday. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $172.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.52 and a current ratio of 7.17. The firm’s 50-day simple moving average is $136.06 and its 200 day simple moving average is $126.88. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 7.31 and a beta of 1.66.

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

M/I Homes announced that its Board of Directors has initiated a share buyback program on Wednesday, November 12th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

M/I Homes Company 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.