BlackRock Inc. Invests $769.78 Million in M/I Homes, Inc. $MHO

BlackRock Inc. acquired a new position in M/I Homes, Inc. (NYSE:MHO - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,787,460 shares of the construction company's stock, valued at approximately $769,776,000. BlackRock Inc. owned approximately 18.94% of M/I Homes at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Verity Asset Management Inc. acquired a new position in M/I Homes in the fourth quarter worth $1,074,000. Militia Capital Management LLC acquired a new position in shares of M/I Homes in the 1st quarter valued at about $2,816,000. First Eagle Investment Management LLC grew its position in shares of M/I Homes by 110.1% during the 4th quarter. First Eagle Investment Management LLC now owns 60,100 shares of the construction company's stock valued at $7,690,000 after buying an additional 31,495 shares during the last quarter. California State Teachers Retirement System grew its position in shares of M/I Homes by 28.3% during the 1st quarter. California State Teachers Retirement System now owns 32,103 shares of the construction company's stock valued at $3,931,000 after buying an additional 7,086 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in M/I Homes by 5,254.6% during the first quarter. Fifth Third Bancorp now owns 10,495 shares of the construction company's stock worth $1,285,000 after acquiring an additional 10,299 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other M/I Homes news, CFO Phillip G. Creek sold 10,000 shares of M/I Homes stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the completion of the sale, the chief financial officer owned 30,918 shares of the company's stock, valued at $4,677,275.04. This trade represents a 24.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reissued a "hold (c)" rating on shares of M/I Homes in a report on Wednesday, August 12th. Freedom Capital upgraded M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. New Street Research set a $172.00 target price on M/I Homes in a research report on Tuesday, August 4th. Zacks Research upgraded M/I Homes from a "strong sell" rating to a "hold" rating in a research note on Friday, June 26th. Finally, Zelman & Associates downgraded shares of M/I Homes from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, M/I Homes has a consensus rating of "Moderate Buy" and a consensus target price of $164.25.

M/I Homes Stock Performance

Shares of MHO opened at $152.29 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69. The firm's 50 day moving average is $150.75 and its 200-day moving average is $138.73. M/I Homes, Inc. has a 12-month low of $116.78 and a 12-month high of $163.66. The stock has a market capitalization of $3.85 billion, a P/E ratio of 12.82 and a beta of 1.60.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $4.42 EPS. The company's revenue was down 6.0% compared to the same quarter last year. Equities research analysts anticipate that M/I Homes, Inc. will post 12.62 EPS for the current fiscal year.

About M/I Homes

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.

Want to see what other hedge funds are holding MHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M/I Homes, Inc. (NYSE:MHO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source