Lazard Asset Management LLC Reduces Holdings in M/I Homes, Inc. (NYSE:MHO)

Lazard Asset Management LLC cut its holdings in M/I Homes, Inc. (NYSE:MHO - Free Report) by 48.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,649 shares of the construction company's stock after selling 9,034 shares during the quarter. Lazard Asset Management LLC's holdings in M/I Homes were worth $1,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MHO. Royce & Associates LP grew its position in shares of M/I Homes by 42.5% in the 4th quarter. Royce & Associates LP now owns 274,871 shares of the construction company's stock worth $36,544,000 after buying an additional 81,964 shares during the period. Raymond James Financial Inc. purchased a new stake in M/I Homes during the 4th quarter valued at about $10,672,000. Donald Smith & CO. Inc. grew its position in M/I Homes by 6.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,164,189 shares of the construction company's stock valued at $154,779,000 after purchasing an additional 65,771 shares during the last quarter. Barclays PLC grew its position in M/I Homes by 34.1% during the 4th quarter. Barclays PLC now owns 169,796 shares of the construction company's stock valued at $22,574,000 after purchasing an additional 43,219 shares during the last quarter. Finally, Crestline Management LP purchased a new stake in M/I Homes during the 4th quarter valued at about $4,300,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MHO. Wall Street Zen downgraded shares of M/I Homes from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Seaport Res Ptn raised shares of M/I Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Finally, Raymond James cut their price objective on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th.

M/I Homes Stock Performance

Shares of MHO stock traded up $0.28 during trading hours on Friday, reaching $106.58. The company had a trading volume of 181,131 shares, compared to its average volume of 284,953. The business has a fifty day moving average price of $109.99 and a 200-day moving average price of $127.20. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $176.18. The firm has a market cap of $2.85 billion, a PE ratio of 5.41 and a beta of 1.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 7.65.

M/I Homes (NYSE:MHO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $3.98 EPS for the quarter, missing analysts' consensus estimates of $4.16 by ($0.18). M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. The company had revenue of $976.09 million during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $4.78 earnings per share. The business's revenue was down 7.4% compared to the same quarter last year. Sell-side analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal 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.