M/I Homes, Inc. $MHO Shares Acquired by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas increased its stake in M/I Homes by 34.8% to 51,060 shares (about 0.20% of the company), valued at roughly $6.53 million at quarter-end.
• Institutional ownership is very high at 95.14%, with several large funds adding or initiating positions — e.g., Junto Capital opened a ~$35.9M position and Invesco now holds 300,912 shares (~$43.5M).
• M/I Homes carries an average analyst rating of "Moderate Buy" with a $161.67 price target, but recently missed quarterly estimates (EPS $2.55 vs. $2.64; revenue $920.7M vs. $1.18B) and insiders have sold about 49,213 shares (~$7.12M) in the past 90 days.

Teacher Retirement System of Texas grew its position in M/I Homes, Inc. (NYSE:MHO - Free Report) by 34.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,060 shares of the construction company's stock after purchasing an additional 13,189 shares during the period. Teacher Retirement System of Texas owned approximately 0.20% of M/I Homes worth $6,533,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MHO. Junto Capital Management LP acquired a new position in shares of M/I Homes in the third quarter valued at about $35,871,000. Invesco Ltd. increased its holdings in shares of M/I Homes by 116.4% in the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company's stock valued at $43,464,000 after purchasing an additional 161,881 shares during the period. Gradient Investments LLC increased its holdings in shares of M/I Homes by 689.4% in the fourth quarter. Gradient Investments LLC now owns 114,773 shares of the construction company's stock valued at $14,685,000 after purchasing an additional 100,233 shares during the period. Cramer Rosenthal Mcglynn LLC acquired a new position in shares of M/I Homes in the third quarter valued at about $13,315,000. Finally, American Century Companies Inc. increased its holdings in shares of M/I Homes by 10.9% in the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company's stock valued at $135,282,000 after purchasing an additional 91,732 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MHO has been the topic of a number of research reports. Citizens Jmp initiated coverage on M/I Homes in a report on Wednesday, January 7th. They issued a "market outperform" rating and a $165.00 price objective on the stock. Oppenheimer set a $165.00 target price on M/I Homes in a report on Friday, January 30th. Zacks Research raised M/I Homes from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of M/I Homes in a report on Thursday, January 22nd. Finally, Citigroup reaffirmed a "market outperform" rating on shares of M/I Homes in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, M/I Homes currently has an average rating of "Moderate Buy" and an average price target of $161.67.

M/I Homes Stock Up 0.1%

M/I Homes stock opened at $133.73 on Monday. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 10.07 and a beta of 1.77. M/I Homes, Inc. has a 52 week low of $102.44 and a 52 week high of $158.92. The business's 50-day moving average price is $130.33 and its 200 day moving average price is $132.04. The company has a quick ratio of 1.76, a current ratio of 7.58 and a debt-to-equity ratio of 0.30.

M/I Homes (NYSE:MHO - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The construction company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.09). The company had revenue of $920.71 million for the quarter, compared to analyst estimates of $1.18 billion. M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The firm's revenue was down 5.8% on a year-over-year basis. During the same period last year, the business earned $3.98 earnings per share. As a group, sell-side analysts anticipate that M/I Homes, Inc. will post 13.63 earnings per share for the current year.

Insider Buying and Selling

In other M/I Homes news, insider Susan E. Krohne sold 491 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $72,078.80. Following the transaction, the insider owned 8,771 shares in the company, valued at approximately $1,287,582.80. This represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert H. Schottenstein sold 14,974 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total value of $2,198,183.20. Following the transaction, the chief executive officer owned 348,513 shares in the company, valued at $51,161,708.40. This represents a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,213 shares of company stock valued at $7,115,268 over the last ninety days. Company insiders own 3.60% of the company's stock.

About M/I Homes

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.

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