Fifth Third Bancorp Grows Position in M/I Homes, Inc. $MHO

Key Points

• Fifth Third Bancorp sharply increased its stake in M/I Homes during the first quarter, boosting its holdings by 5,254.6% to 10,495 shares valued at about $1.29 million.
• Institutional ownership is heavy in M/I Homes, with several other funds also adding positions and institutions now owning 95.14% of the stock.
• Recent financial results were weaker than expected: M/I Homes missed both EPS and revenue estimates in its latest quarter, though analysts still see moderate upside with a consensus target price of $161.67.

Fifth Third Bancorp increased its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 5,254.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,495 shares of the construction company's stock after acquiring an additional 10,299 shares during the quarter. Fifth Third Bancorp's holdings in M/I Homes were worth $1,285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MHO. Capelight Capital Asset Management LP purchased a new stake in shares of M/I Homes in the fourth quarter worth about $7,037,000. SG Americas Securities LLC grew its holdings in M/I Homes by 148.7% during the 4th quarter. SG Americas Securities LLC now owns 7,995 shares of the construction company's stock valued at $1,023,000 after buying an additional 4,780 shares in the last quarter. Verity Asset Management Inc. bought a new stake in M/I Homes in the 4th quarter worth approximately $1,074,000. First Eagle Investment Management LLC increased its stake 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 acquiring an additional 31,495 shares during the last quarter. Finally, Denali Advisors LLC raised its holdings in shares of M/I Homes by 320.7% during the 4th quarter. Denali Advisors LLC now owns 55,239 shares of the construction company's stock worth $7,068,000 after acquiring an additional 42,108 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Stock Up 2.0%

Shares of MHO opened at $149.76 on Friday. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $144.06 and a 200 day moving average of $136.46. The company has a market cap of $3.83 billion, a PE ratio of 11.28 and a beta of 1.60. M/I Homes, Inc. has a 52-week low of $116.78 and a 52-week high of $163.66.

M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.09). The firm had revenue of $920.71 million during the quarter, compared to the consensus estimate of $1.18 billion. M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.M/I Homes's revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.98 EPS. On average, sell-side analysts expect that M/I Homes, Inc. will post 12.6 EPS for the current year.

Wall Street Analyst Weigh In

MHO has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of M/I Homes in a report on Friday, May 15th. Seaport Research Partners reaffirmed a "neutral" rating on shares of M/I Homes in a research note on Tuesday, April 7th. Zelman & Associates lowered shares of M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th. Freedom Capital raised shares of M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. Finally, Zacks Research upgraded shares of M/I Homes from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $161.67.

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.

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