First Eagle Investment Management LLC Grows Position in M/I Homes, Inc. $MHO

Key Points

• First Eagle Investment Management increased its stake in M/I Homes by 110.1% in the fourth quarter, bringing its holdings to 60,100 shares worth about $7.69 million.
• Insider selling was notable, with CEO Robert H. Schottenstein and insider Susan E. Krohne both selling shares in February; insiders sold 24,213 shares over the last 90 days.
• M/I Homes reported weaker-than-expected quarterly results, with EPS of $2.55 versus estimates of $2.64 and revenue of $920.71 million, while analysts currently rate the stock a Moderate Buy with an average target price of $161.67.

First Eagle Investment Management LLC grew its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 110.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,100 shares of the construction company's stock after buying an additional 31,495 shares during the period. First Eagle Investment Management LLC owned 0.23% of M/I Homes worth $7,690,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in M/I Homes by 26.1% during the third quarter. JPMorgan Chase & Co. now owns 266,582 shares of the construction company's stock worth $38,505,000 after buying an additional 55,206 shares in the last quarter. Capelight Capital Asset Management LP purchased a new position in M/I Homes during the fourth quarter worth $7,037,000. Segall Bryant & Hamill LLC purchased a new position in M/I Homes during the third quarter worth $3,401,000. Rafferty Asset Management LLC increased its position in M/I Homes by 83.2% during the third quarter. Rafferty Asset Management LLC now owns 39,831 shares of the construction company's stock worth $5,753,000 after buying an additional 18,095 shares in the last quarter. Finally, American Century Companies Inc. increased its position in M/I Homes by 10.9% during the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company's stock worth $135,282,000 after buying an additional 91,732 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Insider Buying and Selling at M/I Homes

In other M/I Homes news, CEO Robert H. Schottenstein sold 14,974 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the completion of the sale, the chief executive officer owned 348,513 shares of the company's stock, valued at approximately $51,161,708.40. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan E. Krohne sold 491 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $72,078.80. Following the sale, the insider directly owned 8,771 shares of the company's stock, valued at approximately $1,287,582.80. This trade represents a 5.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 24,213 shares of company stock valued at $3,554,468. Company insiders own 3.60% of the company's stock.

M/I Homes Price Performance

Shares of NYSE:MHO opened at $128.10 on Wednesday. The company has a market cap of $3.28 billion, a P/E ratio of 9.65 and a beta of 1.65. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30. M/I Homes, Inc. has a 52 week low of $103.52 and a 52 week high of $158.92. The business has a fifty day simple moving average of $127.91 and a 200-day simple moving average of $131.79.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MHO shares. Citigroup reissued a "market outperform" rating on shares of M/I Homes in a research report on Friday, January 30th. Seaport Research Partners reissued a "neutral" rating on shares of M/I Homes in a research report on Tuesday, April 7th. Oppenheimer set a $165.00 price target on M/I Homes in a research report on Friday, January 30th. Weiss Ratings reissued a "hold (c+)" rating on shares of M/I Homes in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded M/I Homes from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $161.67.

M/I Homes 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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