New York State Teachers Retirement System Sells 9,335 Shares of M/I Homes, Inc. $MHO

Key Points

• New York State Teachers Retirement System cut its M/I Homes stake by 22.4% in the first quarter, selling 9,335 shares and leaving it with 32,401 shares worth about $3.97 million.
• M/I Homes shares fell 2.8% and were trading at $146.10, with the stock still sitting below its 52-week high of $163.66 but above its 52-week low of $112.64.
• The company missed quarterly earnings and revenue estimates, reporting $2.55 EPS on $920.71 million in revenue versus expectations of $2.64 EPS and $1.18 billion in sales; analysts currently have a Moderate Buy consensus target of $161.67.

New York State Teachers Retirement System reduced its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 22.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,401 shares of the construction company's stock after selling 9,335 shares during the period. New York State Teachers Retirement System owned 0.13% of M/I Homes worth $3,968,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Hilton Head Capital Partners LLC bought a new stake in M/I Homes during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its position in shares of M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock worth $32,000 after purchasing an additional 135 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of M/I Homes in the fourth quarter worth approximately $49,000. CIBC Private Wealth Group LLC increased its stake in shares of M/I Homes by 53.7% in the third quarter. CIBC Private Wealth Group LLC now owns 475 shares of the construction company's stock worth $69,000 after purchasing an additional 166 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of M/I Homes by 1,090.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company's stock worth $64,000 after purchasing an additional 458 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Stock Down 2.8%

Shares of MHO stock opened at $146.10 on Thursday. The company's fifty day simple moving average is $139.52 and its two-hundred day simple moving average is $134.82. M/I Homes, Inc. has a 52 week low of $112.64 and a 52 week high of $163.66. The stock has a market cap of $3.74 billion, a P/E ratio of 11.00 and a beta of 1.60. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $2.55 earnings per share for the quarter, missing analysts' consensus estimates of $2.64 by ($0.09). M/I Homes had a net margin of 8.24% and a return on equity of 12.91%. The firm had revenue of $920.71 million for the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the business earned $3.98 EPS. The company's revenue for the quarter was down 5.8% on a year-over-year basis. Analysts predict that M/I Homes, Inc. will post 12.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MHO shares. Freedom Capital upgraded shares of M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. Zacks Research raised M/I Homes from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Zelman & Associates downgraded M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday. Seaport Research Partners reiterated a "neutral" rating on shares of M/I Homes in a research report on Tuesday, April 7th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of M/I Homes in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $161.67.

M/I Homes Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.

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