New York State Teachers Retirement System Reduces Stock Position in M/I Homes, Inc. $MHO

Key Points

• The New York State Teachers Retirement System reduced its stake in M/I Homes, Inc. by 4.9% during the second quarter, owning 45,799 shares valued at approximately $5.1 million.
• Institutional investors collectively own 95.14% of M/I Homes, with several funds significantly increasing their positions in the first quarter.
• Equities research analysts have mixed ratings on M/I Homes, with a consensus rating of "Buy" and a price target of $162.50.

New York State Teachers Retirement System cut its position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,799 shares of the construction company's stock after selling 2,335 shares during the period. New York State Teachers Retirement System owned about 0.17% of M/I Homes worth $5,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MHO. Millennium Management LLC raised its position in M/I Homes by 109.4% during the 1st quarter. Millennium Management LLC now owns 500,207 shares of the construction company's stock valued at $57,114,000 after purchasing an additional 261,381 shares in the last quarter. Donald Smith & CO. Inc. raised its position in M/I Homes by 10.2% during the 1st quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock valued at $146,489,000 after purchasing an additional 118,778 shares in the last quarter. Nuveen LLC bought a new stake in M/I Homes during the 1st quarter valued at $11,829,000. Allianz Asset Management GmbH raised its position in M/I Homes by 77.5% during the 1st quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock valued at $26,155,000 after purchasing an additional 100,029 shares in the last quarter. Finally, Cerity Partners LLC raised its position in M/I Homes by 431.3% during the 1st quarter. Cerity Partners LLC now owns 91,324 shares of the construction company's stock valued at $10,427,000 after purchasing an additional 74,136 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MHO shares. Zacks Research raised M/I Homes from a "strong sell" rating to a "hold" rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of M/I Homes in a research report on Wednesday, October 8th. Finally, Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $162.50.

M/I Homes Trading Up 1.2%

MHO opened at $139.34 on Tuesday. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 7.65 and a beta of 1.70. The company has a current ratio of 7.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.32. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $174.04. The stock has a fifty day moving average price of $144.71 and a 200-day moving average price of $123.56.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 EPS for the quarter, missing the consensus estimate of $4.43 by ($0.01). The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.M/I Homes's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

About M/I Homes

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.

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