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 reduced its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 91.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MHO. Fifth Third Bancorp grew its position in shares of M/I Homes by 38.3% during the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after acquiring an additional 105 shares during the period. Covestor Ltd grew its position in shares of M/I Homes by 134.8% during the 1st quarter. Covestor Ltd now owns 655 shares of the construction company's stock valued at $75,000 after acquiring an additional 376 shares during the period. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 336 shares during the period. National Bank of Canada FI boosted its holdings in M/I Homes by 36.1% in the 1st 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 period. Finally, CWM LLC boosted its holdings in M/I Homes by 75.2% in the 1st 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 period. 95.14% of the stock is owned by institutional investors.

M/I Homes Stock Performance

NYSE MHO opened at $156.97 on Friday. 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 current ratio of 7.21 and a quick ratio of 1.78. The stock has a market capitalization of $4.20 billion, a PE ratio of 8.62 and a beta of 1.66. The company's 50 day simple moving average is $129.91 and its two-hundred day simple moving average is $117.64.

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 the consensus estimate of $4.43 by ($0.01). M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.12 billion. The company's revenue was up 4.8% on a year-over-year basis. Analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Zacks Research raised shares of M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, M/I Homes currently has a consensus rating of "Buy" and an average price target 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.

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