M/I Homes, Inc. (NYSE:MHO) Position Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 3.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 216,040 shares of the construction company's stock after selling 6,994 shares during the quarter. Bank of New York Mellon Corp owned about 0.80% of M/I Homes worth $24,667,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of M/I Homes by 38.3% in the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after buying an additional 105 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in M/I Homes during the 4th quarter valued at approximately $50,000. GAMMA Investing LLC grew its stake in M/I Homes by 57.6% during the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock valued at $105,000 after purchasing an additional 336 shares in the last quarter. National Bank of Canada FI grew its stake in M/I Homes by 72.4% during the 4th quarter. National Bank of Canada FI now owns 855 shares of the construction company's stock valued at $114,000 after purchasing an additional 359 shares in the last quarter. Finally, State of Wyoming acquired a new stake in M/I Homes during the 4th quarter valued at approximately $162,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

MHO has been the subject of a number of recent analyst reports. Wall Street Zen lowered M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Raymond James Financial lowered their price objective on 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.

M/I Homes Stock Performance

Shares of MHO traded up $0.23 during mid-day trading on Monday, hitting $114.33. The stock had a trading volume of 186,146 shares, compared to its average volume of 289,274. The company has a market cap of $3.06 billion, a PE ratio of 6.05 and a beta of 1.64. The company's fifty day simple moving average is $111.00 and its two-hundred day simple moving average is $115.50. The company has a quick ratio of 1.79, a current ratio of 7.43 and a debt-to-equity ratio of 0.31. M/I Homes, Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last issued 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). The firm had revenue of $976.09 million during the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a return on equity of 18.62% and a net margin of 12.11%. M/I Homes's revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.78 EPS. On average, equities analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

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.