Brandywine Global Investment Management LLC Buys 3,938 Shares of M/I Homes, Inc. $MHO

Key Points

• Brandywine Global Investment Management LLC increased its stake in M/I Homes by 4.1% in Q1, holding a total of 98,839 shares valued at approximately $11.3 million.
• Institutional investors own 95.14% of M/I Homes, with notable increases from firms like Donald Smith & Co. Inc. and GAMMA Investing LLC during the same period.
• M/I Homes reported a quarterly earnings miss with $4.42 EPS, falling short of the analysts’ expectations, although revenue was up 4.8% year-over-year at $1.16 billion.

Brandywine Global Investment Management LLC raised its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,839 shares of the construction company's stock after buying an additional 3,938 shares during the period. Brandywine Global Investment Management LLC owned about 0.37% of M/I Homes worth $11,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MHO. Fifth Third Bancorp lifted its stake in M/I Homes by 38.3% during the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after purchasing an additional 105 shares during the last quarter. Covestor Ltd lifted its position in M/I Homes by 134.8% in the 1st quarter. Covestor Ltd now owns 655 shares of the construction company's stock worth $75,000 after buying an additional 376 shares during the last quarter. GAMMA Investing LLC lifted its position in M/I Homes by 57.6% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after buying an additional 336 shares during the last quarter. National Bank of Canada FI boosted its stake in M/I Homes by 36.1% in the first quarter. National Bank of Canada FI now owns 1,164 shares of the construction company's stock worth $133,000 after buying an additional 309 shares in the last quarter. Finally, State of Wyoming bought a new position in M/I Homes during the fourth quarter valued at approximately $162,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MHO. Raymond James Financial decreased their price target on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th. Zacks Research upgraded M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Wall Street Zen lowered shares of M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Zelman & Associates upgraded M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, M/I Homes currently has a consensus rating of "Buy" and an average target price of $162.50.

M/I Homes Stock Performance

M/I Homes stock traded up $8.2270 during midday trading on Friday, reaching $146.9970. 119,207 shares of the company traded hands, compared to its average volume of 283,431. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $176.18. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 8.08 and a beta of 1.60. The business has a 50 day moving average of $121.11 and a two-hundred day moving average of $115.39.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The construction company reported $4.42 EPS for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01). The firm 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 company's revenue was up 4.8% compared to the same quarter last year. As a group, research analysts predict 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.