State of Tennessee Department of Treasury Lowers Holdings in M/I Homes, Inc. (NYSE:MHO)

State of Tennessee Department of Treasury decreased its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,838 shares of the construction company's stock after selling 2,565 shares during the quarter. State of Tennessee Department of Treasury owned about 0.05% of M/I Homes worth $1,973,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arkadios Wealth Advisors increased its position in shares of M/I Homes by 4.2% during the 4th quarter. Arkadios Wealth Advisors now owns 2,226 shares of the construction company's stock valued at $296,000 after purchasing an additional 90 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of M/I Homes by 3.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,787 shares of the construction company's stock worth $371,000 after purchasing an additional 98 shares during the period. Bay Rivers Group grew its holdings in M/I Homes by 2.7% during the 4th quarter. Bay Rivers Group now owns 4,911 shares of the construction company's stock valued at $653,000 after purchasing an additional 128 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in M/I Homes by 5.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,437 shares of the construction company's stock worth $324,000 after purchasing an additional 131 shares during the last quarter. Finally, Nvest Financial LLC boosted its position in shares of M/I Homes by 7.8% during the fourth quarter. Nvest Financial LLC now owns 1,822 shares of the construction company's stock valued at $242,000 after buying an additional 132 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Seaport Res Ptn upgraded M/I Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. StockNews.com lowered M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Raymond James reduced their price target on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th.

M/I Homes Stock Up 2.8 %

Shares of NYSE:MHO traded up $3.04 during trading on Friday, reaching $110.36. The stock had a trading volume of 227,067 shares, compared to its average volume of 285,491. The company has a current ratio of 7.65, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2.96 billion, a P/E ratio of 5.60 and a beta of 1.99. The firm's 50-day simple moving average is $112.36 and its 200 day simple moving average is $132.08. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $176.18.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $3.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.16 by ($0.18). The business had revenue of $976.09 million for the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. The business's revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.78 earnings per share. As a group, research analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

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.