JPMorgan Chase & Co. Increases Stock Holdings in M/I Homes, Inc. $MHO

Key Points

• JPMorgan Chase & Co. increased its stake in M/I Homes by 26.1% in Q3 to 266,582 shares (about 1.02% of the company), valued at roughly $38.5 million.
• Analysts are mixed but the consensus rating is a Moderate Buy with a consensus price target of $161.67, while the stock trades around $120 (52‑week range $100.22–$158.92).
• M/I Homes slightly beat quarterly EPS expectations ($3.91 vs. $3.88) despite revenue falling 4.9% year‑over‑year, and insiders have sold about 49,213 shares (~$7.1M) in the past 90 days.

JPMorgan Chase & Co. boosted its holdings in M/I Homes, Inc. (NYSE:MHO - Free Report) by 26.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 266,582 shares of the construction company's stock after purchasing an additional 55,206 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.02% of M/I Homes worth $38,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new stake in M/I Homes in the 3rd quarter valued at about $28,000. Jones Financial Companies Lllp lifted its holdings in shares of M/I Homes by 73.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company's stock worth $30,000 after acquiring an additional 87 shares during the period. Private Trust Co. NA acquired a new stake in shares of M/I Homes in the third quarter worth approximately $38,000. EverSource Wealth Advisors LLC boosted its position in shares of M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock worth $32,000 after acquiring an additional 135 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in M/I Homes by 58.6% in the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company's stock valued at $52,000 after purchasing an additional 170 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Citigroup reaffirmed a "market outperform" rating on shares of M/I Homes in a research note on Friday, January 30th. Zacks Research cut shares of M/I Homes from a "hold" rating to a "strong sell" rating in a research note on Friday, January 30th. Weiss Ratings restated a "hold (c+)" rating on shares of M/I Homes in a report on Thursday, January 22nd. Oppenheimer set a $165.00 target price on M/I Homes in a research report on Friday, January 30th. Finally, Citizens Jmp assumed coverage on M/I Homes in a report on Wednesday, January 7th. They issued a "market outperform" rating and a $165.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $161.67.

M/I Homes Trading Down 2.2%

NYSE MHO opened at $120.16 on Friday. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $158.92. The company's 50 day moving average price is $137.34 and its 200 day moving average price is $136.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 8.17 and a beta of 1.77.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.03. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $4.71 earnings per share. M/I Homes's revenue for the quarter was down 4.9% on a year-over-year basis. On average, sell-side analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current year.

Insider Activity at M/I Homes

In related news, insider Susan E. Krohne sold 5,000 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $134.28, for a total value of $671,400.00. Following the completion of the sale, the insider directly owned 6,167 shares in the company, valued at approximately $828,104.76. This represents a 44.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Phillip G. Creek sold 8,616 shares of the firm'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 $1,264,828.80. Following the completion of the transaction, the chief financial officer directly owned 45,815 shares in the company, valued at $6,725,642. This trade represents a 15.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 49,213 shares of company stock worth $7,115,268. 3.50% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding MHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M/I Homes, Inc. (NYSE:MHO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.