Comerica Bank Sells 98,252 Shares of M/I Homes, Inc. $MHO

Key Points

• Comerica Bank significantly reduced its stake in M/I Homes, Inc. by selling 98,252 shares, which amounts to a 91.2% decrease, leaving it with 9,478 shares valued at about $1.08 million.
• Institutional investors currently own 95.14% of M/I Homes' stock, with several firms, including Fifth Third Bancorp and Covestor Ltd, increasing their holdings during the first quarter.
• M/I Homes reported a Q2 earnings per share (EPS) of $4.42, slightly falling short of the consensus estimate, though revenue was above expectations, showing a 4.8% year-over-year growth.

Comerica Bank trimmed its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 91.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,478 shares of the construction company's stock after selling 98,252 shares during the period. Comerica Bank's holdings in M/I Homes were worth $1,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp raised its stake in shares of M/I Homes by 38.3% during the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after buying an additional 105 shares during the last quarter. Covestor Ltd raised its stake in shares of M/I Homes by 134.8% during the first quarter. Covestor Ltd now owns 655 shares of the construction company's stock worth $75,000 after buying an additional 376 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of M/I Homes by 57.6% during the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after buying an additional 336 shares during the last quarter. National Bank of Canada FI raised its stake in shares of M/I Homes by 36.1% during the first quarter. National Bank of Canada FI now owns 1,164 shares of the construction company's stock worth $133,000 after buying an additional 309 shares during the last quarter. Finally, CWM LLC raised its stake in shares of M/I Homes by 75.2% during the first quarter. CWM LLC now owns 1,284 shares of the construction company's stock worth $147,000 after buying an additional 551 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

M/I Homes Trading Up 3.7%

NYSE:MHO traded up $5.56 on Thursday, reaching $156.96. The company's stock had a trading volume of 321,995 shares, compared to its average volume of 247,392. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $176.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.78 and a current ratio of 7.21. The firm has a market cap of $4.20 billion, a PE ratio of 8.62 and a beta of 1.66. The business's 50-day moving average price is $133.04 and its two-hundred day moving average price is $118.67.

M/I Homes (NYSE:MHO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01). M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. M/I Homes's revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MHO has been the subject of a number of recent research reports. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Zacks Research raised shares of M/I Homes to a "strong sell" rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $162.50.

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.