Gradient Investments LLC Makes New Investment in M/I Homes, Inc. $MHO

Key Points

• Gradient Investments LLC has made a new investment of approximately $1.86 million in M/I Homes, acquiring 16,547 shares of the company.
• Analysts have mixed ratings on M/I Homes, with two giving a Strong Buy rating and others providing ratings from Buy to Sell, while the average target price is set at $162.50.
• The stock's current price opened at $152.37, with a recent quarterly earnings report showing a slight miss in EPS compared to consensus estimates, despite positive year-over-year revenue growth.

Gradient Investments LLC acquired a new position in M/I Homes, Inc. (NYSE:MHO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,547 shares of the construction company's stock, valued at approximately $1,855,000. Gradient Investments LLC owned approximately 0.06% of M/I Homes at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Donald Smith & CO. Inc. lifted its position in M/I Homes by 10.2% during the 1st quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock worth $146,489,000 after acquiring an additional 118,778 shares during the period. Millennium Management LLC lifted its position in M/I Homes by 109.4% during the 1st quarter. Millennium Management LLC now owns 500,207 shares of the construction company's stock worth $57,114,000 after acquiring an additional 261,381 shares during the period. Royce & Associates LP lifted its position in M/I Homes by 14.4% during the 1st quarter. Royce & Associates LP now owns 314,362 shares of the construction company's stock worth $35,894,000 after acquiring an additional 39,491 shares during the period. Allianz Asset Management GmbH lifted its position in M/I Homes by 77.5% during the 1st quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock worth $26,155,000 after acquiring an additional 100,029 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in M/I Homes by 81.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 196,921 shares of the construction company's stock worth $22,484,000 after acquiring an additional 88,545 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

M/I Homes Stock Performance

Shares of MHO stock traded down $4.83 on Friday, hitting $147.53. The company had a trading volume of 719,114 shares, compared to its average volume of 266,100. The firm has a market cap of $3.95 billion, a P/E ratio of 8.10 and a beta of 1.66. The company has a 50-day moving average price of $137.19 and a 200-day moving average price of $120.08. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings data 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 net margin of 11.40% and a return on equity of 17.23%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. M/I Homes's revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on MHO shares. Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Zacks Research raised M/I Homes to a "strong sell" rating in a research report on Tuesday, August 12th. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $162.50.

M/I Homes 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.