Donald Smith & CO. Inc. Buys 118,778 Shares of M/I Homes, Inc. (NYSE:MHO)

Key Points

• Donald Smith & CO. Inc. has increased its stake in M/I Homes by 10.2%, now owning approximately 4.79% of the company worth $146.5 million.
• Several other institutional investors, including Principal Financial Group and GAMMA Investing LLC, also raised their stakes in M/I Homes, indicating strong institutional interest.
• Analysts have mixed views on M/I Homes, with Raymond James lowering its price target to $140, while Wall Street Zen changed its rating from "buy" to "hold."

Donald Smith & CO. Inc. boosted its position in M/I Homes, Inc. (NYSE:MHO - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,282,967 shares of the construction company's stock after purchasing an additional 118,778 shares during the period. M/I Homes makes up approximately 3.6% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 9th biggest holding. Donald Smith & CO. Inc. owned approximately 4.79% of M/I Homes worth $146,489,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MHO. Entropy Technologies LP bought a new position in M/I Homes in the first quarter worth approximately $693,000. Covestor Ltd raised its stake in M/I Homes by 134.8% in the first quarter. Covestor Ltd now owns 655 shares of the construction company's stock worth $75,000 after buying an additional 376 shares in the last quarter. National Bank of Canada FI raised 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. Citigroup Inc. raised its stake in M/I Homes by 34.7% in the first quarter. Citigroup Inc. now owns 83,046 shares of the construction company's stock worth $9,482,000 after buying an additional 21,379 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in M/I Homes in the first quarter worth approximately $357,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

M/I Homes Price Performance

Shares of MHO stock traded up $7.46 during mid-day trading on Tuesday, hitting $137.02. 340,690 shares of the stock were exchanged, compared to its average volume of 320,983. The firm has a fifty day moving average of $116.56 and a 200 day moving average of $114.71. 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 52-week low of $100.22 and a 52-week high of $176.18. The company has a market cap of $3.67 billion, a PE ratio of 7.52 and a beta of 1.60.

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 for the quarter, missing the consensus estimate of $4.43 by ($0.01). M/I Homes had a return on equity of 17.23% and a net margin of 11.40%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. The business's revenue was up 4.8% on a year-over-year basis. Research analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MHO shares. Wall Street Zen downgraded shares of M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Raymond James Financial lowered 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. Finally, Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $162.50.

M/I Homes Company 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.