M/I Homes, Inc. $MHO Shares Sold by Rhumbline Advisers

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 reduced its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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.

Other hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in M/I Homes by 38.3% during the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after acquiring an additional 105 shares in the last quarter. Covestor Ltd boosted its holdings 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 buying an additional 376 shares during the period. GAMMA Investing LLC boosted its holdings 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 buying an additional 336 shares during the period. Strs Ohio acquired a new position in shares of M/I Homes in the 1st quarter valued at about $114,000. Finally, National Bank of Canada FI boosted its holdings 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 buying an additional 309 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

M/I Homes Price Performance

Shares of MHO stock traded down $2.06 during midday trading on Tuesday, reaching $150.32. 169,077 shares of the company were exchanged, compared to its average volume of 281,626. The company's 50 day moving average price is $134.63 and its two-hundred day moving average price is $119.16. The company has a market cap of $4.03 billion, a P/E ratio of 8.25 and a beta of 1.66. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.78 and a current ratio of 7.21. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The firm's quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes Company 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.