Bank of America Corp DE Sells 27,235 Shares of M/I Homes, Inc. (NYSE:MHO)

Bank of America Corp DE lessened its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 28.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 68,183 shares of the construction company's stock after selling 27,235 shares during the quarter. Bank of America Corp DE owned about 0.25% of M/I Homes worth $9,065,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Algert Global LLC lifted its stake in shares of M/I Homes by 37.7% during the 4th quarter. Algert Global LLC now owns 101,128 shares of the construction company's stock worth $13,445,000 after buying an additional 27,697 shares during the last quarter. Triumph Capital Management lifted its stake in shares of M/I Homes by 18.1% during the 4th quarter. Triumph Capital Management now owns 2,065 shares of the construction company's stock worth $275,000 after buying an additional 317 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in shares of M/I Homes by 49.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 24,630 shares of the construction company's stock worth $3,275,000 after buying an additional 8,120 shares during the last quarter. Northern Trust Corp lifted its stake in shares of M/I Homes by 8.4% during the 4th quarter. Northern Trust Corp now owns 347,000 shares of the construction company's stock worth $46,134,000 after buying an additional 26,820 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of M/I Homes during the 4th quarter worth about $773,000. Institutional investors and hedge funds own 95.14% of the company's stock.

M/I Homes Stock Performance

M/I Homes stock traded down $2.86 during midday trading on Wednesday, hitting $106.68. The company's stock had a trading volume of 101,219 shares, compared to its average volume of 283,778. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.65 and a quick ratio of 1.93. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $176.18. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 5.42 and a beta of 1.75. The company has a 50-day moving average price of $109.61 and a two-hundred day moving average price of $126.40.

M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The construction company reported $3.98 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $976.09 million during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business earned $4.78 earnings per share. M/I Homes's quarterly revenue was down 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MHO. Raymond James dropped their price objective on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. Seaport Res Ptn upgraded shares of M/I Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Finally, Wall Street Zen cut shares of M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th.

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.