Northern Trust Corp Sells 4,920 Shares of M/I Homes, Inc. $MHO

Key Points

• Northern Trust Corp has reduced its holdings in M/I Homes, Inc. by 1.4%, now owning approximately 342,080 shares valued at $39,059,000.
• Institutional investors collectively own 95.14% of M/I Homes, with several others, including Fifth Third Bancorp and CWM LLC, significantly increasing their stakes in the first quarter.
• M/I Homes recently reported earnings per share of $4.42, slightly missing analysts' expectations, and had a revenue of $1.16 billion, which was a 4.8% increase year-over-year.

Northern Trust Corp lessened its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,080 shares of the construction company's stock after selling 4,920 shares during the period. Northern Trust Corp owned approximately 1.28% of M/I Homes worth $39,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in shares of M/I Homes by 38.3% in the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after purchasing an additional 105 shares in the last quarter. Covestor Ltd boosted its stake in shares of M/I Homes by 134.8% in the 1st quarter. Covestor Ltd now owns 655 shares of the construction company's stock valued at $75,000 after purchasing an additional 376 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of M/I Homes by 57.6% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock valued at $105,000 after purchasing an additional 336 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of M/I Homes by 36.1% in the 1st quarter. National Bank of Canada FI now owns 1,164 shares of the construction company's stock valued at $133,000 after purchasing an additional 309 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of M/I Homes by 75.2% in the 1st quarter. CWM LLC now owns 1,284 shares of the construction company's stock valued at $147,000 after purchasing an additional 551 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MHO shares. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $162.50.

M/I Homes Stock Down 0.3%

Shares of M/I Homes stock traded down $0.38 during trading on Tuesday, hitting $146.89. The company's stock had a trading volume of 125,680 shares, compared to its average volume of 282,282. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.78 and a current ratio of 7.21. The company has a fifty day simple moving average of $126.73 and a two-hundred day simple moving average of $116.70. The company has a market capitalization of $3.93 billion, a PE ratio of 8.07 and a beta of 1.66. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (EPS) 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. The company's revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current 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.