Rhumbline Advisers Lowers Stock Position in M/I Homes, Inc. $MHO

Key Points

• Rhumbline Advisers decreased its stake in M/I Homes, Inc. by 4.9%, selling 4,285 shares, resulting in ownership of 83,423 shares valued at approximately $9.5 million.
• Various hedge funds have increased their positions in M/I Homes, with notable growth from Fifth Third Bancorp at 38.3% and Covestor Ltd at 134.8% during the first quarter.
• M/I Homes reported a quarterly EPS of $4.42, marginally missing estimates, even as revenue increased by 4.8% year-over-year to $1.16 billion.

Rhumbline Advisers decreased its position in M/I Homes, Inc. (NYSE:MHO - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,423 shares of the construction company's stock after selling 4,285 shares during the period. Rhumbline Advisers owned about 0.31% of M/I Homes worth $9,525,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MHO. Fifth Third Bancorp grew its position in shares of M/I Homes by 38.3% during the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after acquiring an additional 105 shares during the period. Covestor Ltd boosted its position in M/I Homes by 134.8% during the first quarter. Covestor Ltd now owns 655 shares of the construction company's stock worth $75,000 after purchasing an additional 376 shares in the last quarter. GAMMA Investing LLC grew its holdings in M/I Homes by 57.6% in the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock valued at $105,000 after purchasing an additional 336 shares during the period. Strs Ohio purchased a new stake in shares of M/I Homes in the first quarter valued at approximately $114,000. Finally, National Bank of Canada FI raised its stake in shares of M/I Homes by 36.1% during the 1st 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 during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Stock Performance

NYSE:MHO opened at $151.70 on Thursday. The company's 50-day moving average is $132.21 and its two-hundred day moving average is $118.39. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $176.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 8.33 and a beta of 1.66.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $4.42 EPS for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01). The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The company's revenue was up 4.8% compared to the same quarter last year. Analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MHO. Zacks Research raised shares of M/I Homes to a "strong sell" rating in a research note on Tuesday, August 12th. Zelman & Associates raised shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Two investment 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. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $162.50.

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.

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