Jacobs Levy Equity Management Inc. Invests $3 Million in M/I Homes, Inc. $MHO

Key Points

• Jacobs Levy Equity Management Inc. has acquired 26,228 shares of M/I Homes, valued at approximately $2,995,000, representing about 0.10% ownership of the company.
• M/I Homes' recent earnings report showed an earnings per share (EPS) of $4.42, which was slightly below analysts' expected $4.43, although revenue increased by 4.8% year-over-year.
• Institutional investors now own a significant 95.14% of M/I Homes, with several firms, including Donald Smith & CO. Inc. and GAMMA Investing LLC, increasing their stakes recently.

Jacobs Levy Equity Management Inc. bought a new position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,228 shares of the construction company's stock, valued at approximately $2,995,000. Jacobs Levy Equity Management Inc. owned approximately 0.10% of M/I Homes as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Donald Smith & CO. Inc. raised its stake in M/I Homes by 10.2% in the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock valued at $146,489,000 after buying an additional 118,778 shares during the period. Royce & Associates LP raised its stake in M/I Homes by 14.4% in the first quarter. Royce & Associates LP now owns 314,362 shares of the construction company's stock valued at $35,894,000 after buying an additional 39,491 shares during the period. Millennium Management LLC increased its stake in shares of M/I Homes by 85.5% during the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock worth $31,752,000 after purchasing an additional 110,086 shares during the period. Allianz Asset Management GmbH increased its stake in shares of M/I Homes by 77.5% during the first quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock worth $26,155,000 after purchasing an additional 100,029 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of M/I Homes by 81.7% during the first quarter. Assenagon Asset Management S.A. now owns 196,921 shares of the construction company's stock worth $22,484,000 after purchasing an additional 88,545 shares during the period. Institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

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

M/I Homes Stock Down 1.5%

MHO stock traded down $2.30 during mid-day trading on Monday, reaching $151.80. 41,165 shares of the company traded hands, compared to its average volume of 280,947. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 8.33 and a beta of 1.66. 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 fifty-two week low of $100.22 and a fifty-two week high of $176.18. The firm's 50 day moving average price is $133.82 and its 200 day moving average price is $118.92.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.12 billion. The company's quarterly 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 EPS for the current fiscal year.

M/I Homes Company 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.