Allspring Global Investments Holdings LLC Acquires 2,363 Shares of M/I Homes, Inc. (NYSE:MHO)

Allspring Global Investments Holdings LLC grew its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 44.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,707 shares of the construction company's stock after acquiring an additional 2,363 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in M/I Homes were worth $880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MHO. Summit Investment Advisors Inc. boosted its position in shares of M/I Homes by 3.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,787 shares of the construction company's stock worth $371,000 after buying an additional 98 shares during the period. Fifth Third Bancorp boosted its position in shares of M/I Homes by 38.3% in 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 period. SummerHaven Investment Management LLC boosted its position in shares of M/I Homes by 1.8% in the first quarter. SummerHaven Investment Management LLC now owns 6,443 shares of the construction company's stock worth $736,000 after buying an additional 114 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of M/I Homes by 5.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,437 shares of the construction company's stock worth $324,000 after buying an additional 131 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of M/I Homes by 7.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,124 shares of the construction company's stock worth $282,000 after buying an additional 155 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

M/I Homes Stock Up 5.7%

NYSE MHO traded up $6.39 during trading on Wednesday, hitting $119.02. 355,245 shares of the company traded hands, compared to its average volume of 285,017. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $176.18. The business has a fifty day simple moving average of $109.62 and a 200 day simple moving average of $116.54. The company has a current ratio of 7.43, a quick ratio of 1.79 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.19 billion, a P/E ratio of 6.29 and a beta of 1.64.

M/I Homes (NYSE:MHO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The construction company reported $3.98 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.18). M/I Homes had a net margin of 12.11% and a return on equity of 18.62%. The company had revenue of $976.09 million for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the business earned $4.78 earnings per share. M/I Homes's quarterly revenue was down 7.4% on a year-over-year basis. As a group, sell-side analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current year.

Analyst Ratings Changes

MHO has been the subject of a number of research reports. Wall Street Zen cut M/I Homes from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Raymond James Financial reduced their price objective on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th.

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.