Allianz Asset Management GmbH Lowers Stake in M/I Homes, Inc. $MHO

Key Points

• Allianz Asset Management GmbH has reduced its stake in M/I Homes, Inc. by 25.2%, now owning approximately 171,302 shares worth about $19.2 million.
• M/I Homes reported $4.42 EPS in its latest quarterly earnings, falling short of the consensus estimate by one cent, while revenues increased by 4.8% year-over-year.
• Research firms have recently issued various ratings for M/I Homes, with a consensus rating of "Buy" and an average price target of $162.50.

Allianz Asset Management GmbH reduced its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 25.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 171,302 shares of the construction company's stock after selling 57,763 shares during the period. Allianz Asset Management GmbH owned approximately 0.64% of M/I Homes worth $19,206,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of MHO. Fifth Third Bancorp grew its position in M/I Homes by 38.3% during the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after purchasing an additional 105 shares during the last quarter. Covestor Ltd grew its position in M/I Homes by 134.8% during the 1st quarter. Covestor Ltd now owns 655 shares of the construction company's stock worth $75,000 after purchasing an additional 376 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of M/I Homes by 57.6% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after acquiring an additional 336 shares during the period. Strs Ohio acquired a new stake in shares of M/I Homes in the 1st quarter worth $114,000. Finally, National Bank of Canada FI lifted its stake in shares of M/I Homes by 36.1% in the 1st quarter. National Bank of Canada FI now owns 1,164 shares of the construction company's stock worth $133,000 after acquiring an additional 309 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Stock Up 1.8%

Shares of NYSE MHO opened at $137.51 on Monday. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $176.18. The firm has a 50-day moving average price of $144.52 and a 200 day moving average price of $123.38. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 7.55 and a beta of 1.70.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on MHO. Zelman & Associates upgraded shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Weiss Ratings restated a "hold (c+)" rating on shares of M/I Homes in a research note on Wednesday, October 8th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $162.50.

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.

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