Jacobs Levy Equity Management Inc. Takes Position 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. purchased a new stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 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 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp lifted 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 valued at $43,000 after purchasing an additional 105 shares in the last quarter. Covestor Ltd lifted its holdings in M/I Homes by 134.8% during the first quarter. Covestor Ltd now owns 655 shares of the construction company's stock valued at $75,000 after purchasing an additional 376 shares in the last quarter. GAMMA Investing LLC lifted its holdings in M/I Homes by 57.6% during the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock valued at $105,000 after purchasing an additional 336 shares in the last quarter. National Bank of Canada FI lifted its holdings in M/I Homes by 36.1% during the first quarter. National Bank of Canada FI now owns 1,164 shares of the construction company's stock valued at $133,000 after purchasing an additional 309 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of M/I Homes by 75.2% in the first quarter. CWM LLC now owns 1,284 shares of the construction company's stock worth $147,000 after buying an additional 551 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Analysts Set New Price Targets

MHO has been the topic of several research analyst reports. Zacks Research raised shares of M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $162.50.

M/I Homes Price Performance

M/I Homes stock traded down $2.52 during mid-day trading on Friday, reaching $154.42. 263,361 shares of the company's stock traded hands, compared to its average volume of 245,233. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 8.48 and a beta of 1.66. The stock has a 50 day moving average of $133.82 and a two-hundred day moving average of $118.90. 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 12-month low of $100.22 and a 12-month high of $176.18.

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). The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current 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.