California State Teachers Retirement System Sells 4,117 Shares of M/I Homes, Inc. $MHO

Key Points

• California State Teachers Retirement System cut its M/I Homes stake by 12.8%, selling 4,117 shares and retaining 27,986 shares valued at approximately $4.5 million. Institutional investors collectively own 95.14% of the company.
• M/I Homes beat quarterly earnings expectations with $3.14 in EPS and $1.06 billion in revenue, although revenue declined 6% year over year and EPS fell from $4.42 in the prior-year period.
• Analyst sentiment remains mixed but leans positive: the stock carries a “Moderate Buy” consensus rating and an average price target of $164.25, compared with a recent price of $142.66.

California State Teachers Retirement System lessened its holdings in M/I Homes, Inc. (NYSE:MHO - Free Report) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,986 shares of the construction company's stock after selling 4,117 shares during the period. California State Teachers Retirement System owned about 0.11% of M/I Homes worth $4,499,869 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. NewEdge Wealth LLC acquired a new stake in shares of M/I Homes in the second quarter worth $1,976,000. Empowered Funds LLC acquired a new stake in shares of M/I Homes during the 2nd quarter valued at approximately $1,969,000. Militia Capital Management LLC acquired a new position in M/I Homes in the first quarter valued at $2,816,000. Fifth Third Bancorp boosted its holdings in M/I Homes by 5,254.6% in the 1st 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. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of M/I Homes by 74.1% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,229 shares of the construction company's stock worth $2,599,000 after buying an additional 9,032 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

M/I Homes Price Performance

M/I Homes stock traded up $2.04 during mid-day trading on Tuesday, reaching $142.66. The company had a trading volume of 96,088 shares, compared to its average volume of 238,400. The company has a market capitalization of $3.61 billion, a P/E ratio of 12.01 and a beta of 1.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69. M/I Homes, Inc. has a 1 year low of $116.78 and a 1 year high of $163.66. The stock's 50-day simple moving average is $148.82 and its 200-day simple moving average is $139.17.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business earned $4.42 EPS. The firm's revenue was down 6.0% on a year-over-year basis. On average, equities analysts predict that M/I Homes, Inc. will post 12.12 EPS for the current year.

Insider Buying and Selling at M/I Homes

In related news, CFO Phillip Creek sold 20,000 shares of M/I Homes stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the completion of the sale, the chief financial officer owned 30,918 shares of the company's stock, valued at approximately $4,624,096.08. This trade represents a 39.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MHO. New Street Research set a $172.00 target price on shares of M/I Homes in a research report on Tuesday, August 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of M/I Homes in a report on Wednesday, August 12th. Freedom Capital raised shares of M/I Homes to a "strong-buy" rating in a report on Wednesday, June 24th. Zacks Research cut shares of M/I Homes from a "hold" rating to a "strong sell" rating in a research report on Wednesday, September 9th. Finally, Zelman & Associates downgraded M/I Homes from an "outperform" rating to a "neutral" rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, M/I Homes has an average rating of "Moderate Buy" and an average target price of $164.25.

M/I Homes Company Profile

M/I Homes, Inc is a residential construction company that builds and sells new single-family homes. Its operations include land acquisition and development, home design and construction, sales and marketing, and customer service. The company offers homes in a range of designs and price points, with options and features that can be customized by buyers in many communities.

M/I Homes also provides complementary services through affiliated operations, including mortgage financing and title services.

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