Bank of New York Mellon Corp Sells 7,307 Shares of M/I Homes, Inc. $MHO

Key Points

• Bank of New York Mellon reduced its M/I Homes stake by 3.8%, selling 7,307 shares and retaining 185,963 shares worth approximately $22.8 million. Institutional investors collectively own 95.14% of the company.
• M/I Homes shares opened at $151.81, up 1.9%, with a market capitalization of about $3.88 billion and a price-to-earnings ratio of 11.43.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $161.67, despite some firms maintaining or issuing neutral ratings.

Bank of New York Mellon Corp lowered its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,963 shares of the construction company's stock after selling 7,307 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of M/I Homes worth $22,771,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Hilton Head Capital Partners LLC bought a new position in shares of M/I Homes in the 4th quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock valued at $32,000 after purchasing an additional 135 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in M/I Homes during the fourth quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd raised its position in shares of M/I Homes by 1,090.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company's stock valued at $64,000 after purchasing an additional 458 shares during the period. Finally, WealthCollab LLC raised its position in shares of M/I Homes by 16.5% in the second quarter. WealthCollab LLC now owns 614 shares of the construction company's stock valued at $69,000 after purchasing an additional 87 shares during the period. Institutional investors own 95.14% of the company's stock.

M/I Homes Stock Up 1.9%

MHO opened at $151.81 on Wednesday. The business has a 50 day moving average of $145.14 and a 200-day moving average of $136.84. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 11.43 and a beta of 1.60. The company has a current ratio of 8.40, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. M/I Homes, Inc. has a 1-year low of $116.78 and a 1-year high of $163.66.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MHO. Zelman & Associates downgraded shares of M/I Homes from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of M/I Homes in a report on Friday, May 15th. Freedom Capital raised shares of M/I Homes to a "strong-buy" rating in a research report on Wednesday, June 24th. Zacks Research upgraded shares of M/I Homes from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Finally, Seaport Research Partners reaffirmed a "neutral" rating on shares of M/I Homes in a research report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.67.

M/I Homes Company Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.

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