Round Hill Asset Management Increases Stock Position in M/I Homes, Inc. $MHO

Key Points

• Round Hill Asset Management has increased its stake in M/I Homes by 46.0%, acquiring an additional 6,784 shares in Q1, bringing its total holdings to 21,537 shares.
• Institutional investors own 95.14% of M/I Homes stock, indicating strong institutional interest in the company.
• M/I Homes reported Q2 earnings of $4.42 per share, which was slightly below the consensus estimate of $4.43, although revenue rose by 4.8% year-over-year.

Round Hill Asset Management lifted its position in M/I Homes, Inc. (NYSE:MHO - Free Report) by 46.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,537 shares of the construction company's stock after buying an additional 6,784 shares during the quarter. M/I Homes makes up approximately 1.8% of Round Hill Asset Management's portfolio, making the stock its 17th biggest holding. Round Hill Asset Management owned approximately 0.08% of M/I Homes worth $2,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MHO. Donald Smith & CO. Inc. lifted its holdings in shares of M/I Homes by 10.2% in the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock worth $146,489,000 after buying an additional 118,778 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of M/I Homes by 85.5% in the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock worth $31,752,000 after buying an additional 110,086 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of M/I Homes by 17,898.5% in the first quarter. GAMMA Investing LLC now owns 104,931 shares of the construction company's stock worth $11,981,000 after buying an additional 104,348 shares in the last quarter. Nuveen LLC purchased a new stake in shares of M/I Homes in the first quarter worth about $11,829,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of M/I Homes by 77.5% in the first quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock worth $26,155,000 after buying an additional 100,029 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MHO. Raymond James Financial reduced their price target on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th. Zelman & Associates upgraded 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 research report on Tuesday, August 12th. Finally, Wall Street Zen cut shares of M/I Homes from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $162.50.

M/I Homes Trading Up 5.4%

Shares of M/I Homes stock traded up $7.55 on Friday, hitting $146.32. The stock had a trading volume of 136,249 shares, compared to its average volume of 283,575. The stock's 50-day simple moving average is $121.11 and its two-hundred day simple moving average is $115.39. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $176.18. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 8.04 and a beta of 1.60. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32.

M/I Homes (NYSE:MHO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $1.12 billion. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that M/I Homes, Inc. will post 18.44 EPS 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.