Comerica Bank Lowers Stake in M/I Homes, Inc. (NYSE:MHO)

Comerica Bank cut its position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 48.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,730 shares of the construction company's stock after selling 102,563 shares during the quarter. Comerica Bank owned about 0.39% of M/I Homes worth $14,323,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in M/I Homes in the fourth quarter valued at approximately $27,000. R Squared Ltd purchased a new position in shares of M/I Homes in the 4th quarter valued at $33,000. Aster Capital Management DIFC Ltd acquired a new position in shares of M/I Homes during the 4th quarter valued at $50,000. Steward Partners Investment Advisory LLC acquired a new position in shares of M/I Homes during the 4th quarter valued at $70,000. Finally, Jones Financial Companies Lllp purchased a new stake in M/I Homes during the 4th quarter worth $80,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

M/I Homes Stock Performance

NYSE:MHO opened at $107.30 on Friday. The firm has a 50-day moving average of $112.57 and a two-hundred day moving average of $133.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.65 and a quick ratio of 1.93. The stock has a market cap of $2.87 billion, a P/E ratio of 5.44 and a beta of 1.99. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $3.98 earnings per share for the quarter, missing analysts' consensus estimates of $4.16 by ($0.18). M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. The business had revenue of $976.09 million for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $4.78 EPS. M/I Homes's revenue for the quarter was down 7.4% compared to the same quarter last year. On average, research analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Raymond James reduced their price objective on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a research note on Tuesday. Seaport Res Ptn raised M/I Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Finally, StockNews.com downgraded shares of M/I Homes from a "buy" rating to a "hold" rating in a research report on Friday, April 25th.

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.

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