Intech Investment Management LLC Raises Stock Holdings in M/I Homes, Inc. $MHO

Key Points

• Intech Investment Management LLC increased its stake in M/I Homes, raising its holdings by 9.3% by acquiring 1,861 additional shares, totaling 21,970 shares valued at approximately $2.5 million.
• Several other institutional investors, including Fifth Third Bancorp and CWM LLC, also boosted their investments in M/I Homes during the first quarter, indicating growing institutional interest in the company.
• While M/I Homes' earnings missed estimates slightly with $4.42 EPS, the company reported a revenue of $1.16 billion, exceeding expectations, and has seen a 4.8% increase in quarterly revenue year-over-year.

Intech Investment Management LLC grew its holdings in M/I Homes, Inc. (NYSE:MHO - Free Report) by 9.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,970 shares of the construction company's stock after purchasing an additional 1,861 shares during the quarter. Intech Investment Management LLC owned approximately 0.08% of M/I Homes worth $2,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fifth Third Bancorp increased its holdings in M/I Homes by 38.3% during the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after buying an additional 105 shares during the last quarter. Covestor Ltd boosted its holdings in M/I Homes by 134.8% in the first 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 last quarter. GAMMA Investing LLC lifted its holdings in shares of M/I Homes by 57.6% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after purchasing an additional 336 shares in the last quarter. National Bank of Canada FI raised its position 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 valued at $133,000 after buying an additional 309 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of M/I Homes during the 4th quarter valued at $162,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MHO shares. Zelman & Associates upgraded M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Zacks Research raised shares of M/I Homes to a "strong sell" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $162.50.

M/I Homes Stock Down 3.2%

Shares of MHO traded down $4.83 during trading hours on Friday, hitting $147.53. The company had a trading volume of 719,114 shares, compared to its average volume of 266,100. The company has a market capitalization of $3.95 billion, a PE ratio of 8.10 and a beta of 1.66. The company has a current ratio of 7.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.32. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $176.18. The company's fifty day moving average price is $137.19 and its two-hundred day moving average price is $120.08.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 EPS for the quarter, missing the consensus estimate of $4.43 by ($0.01). The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.M/I Homes's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

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.