Deutsche Bank AG Takes Position in M/I Homes, Inc. $MHO

Key Points

• Deutsche Bank acquired 51,223 shares of M/I Homes in the second quarter, worth approximately $8.24 million and representing about 0.20% of the company. Institutional investors collectively own 95.14% of MHO.
• M/I Homes reported quarterly EPS of $3.14, narrowly beating estimates, while revenue reached $1.06 billion. However, revenue declined 6% year over year and EPS fell from $4.42 in the prior-year quarter.
• Analyst sentiment remains favorable but mixed, with a consensus rating of “Moderate Buy” and an average price target of $164.25 versus the stock’s recent price of $152.29. CFO Phillip G. Creek sold 10,000 shares at an average price of $151.28.

Deutsche Bank AG acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 51,223 shares of the construction company's stock, valued at approximately $8,236,000. Deutsche Bank AG owned about 0.20% of M/I Homes as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other M/I Homes news, CFO Phillip G. Creek sold 10,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $151.28, for a total value of $1,512,800.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,677,275.04. This represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

M/I Homes Stock Down 0.1%

MHO stock opened at $152.29 on Monday. M/I Homes, Inc. has a fifty-two week low of $116.78 and a fifty-two week high of $163.66. The business's 50 day moving average price is $150.75 and its two-hundred day moving average price is $138.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 12.82 and a beta of 1.60.

M/I Homes (NYSE:MHO - Get Free Report) last announced its earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) 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 firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company earned $4.42 EPS. The business's revenue was down 6.0% compared to the same quarter last year. As a group, analysts forecast that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

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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