M/I Homes Inc (MHO) Holdings Cut by Icon Advisers Inc. Co.

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Icon Advisers Inc. Co. cut its position in M/I Homes Inc (NYSE:MHO) by 30.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,600 shares of the construction company’s stock after selling 10,800 shares during the quarter. Icon Advisers Inc. Co.’s holdings in M/I Homes were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MHO. Towle & Co. purchased a new position in M/I Homes in the third quarter worth about $18,068,000. Advisors Asset Management Inc. grew its stake in shares of M/I Homes by 6,064.4% in the second quarter. Advisors Asset Management Inc. now owns 274,686 shares of the construction company’s stock worth $126,000 after acquiring an additional 270,230 shares during the period. BlackRock Inc. grew its stake in shares of M/I Homes by 5.3% in the second quarter. BlackRock Inc. now owns 4,303,019 shares of the construction company’s stock worth $113,943,000 after acquiring an additional 216,879 shares during the period. Millennium Management LLC grew its stake in shares of M/I Homes by 8.6% in the second quarter. Millennium Management LLC now owns 1,504,794 shares of the construction company’s stock worth $39,847,000 after acquiring an additional 119,034 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of M/I Homes in the third quarter worth approximately $2,497,000. 95.68% of the stock is owned by institutional investors and hedge funds.

Shares of MHO stock opened at $23.66 on Friday. M/I Homes Inc has a 52 week low of $21.30 and a 52 week high of $37.41. The company has a market capitalization of $688.88 million, a PE ratio of 6.80 and a beta of 0.97. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.23 and a quick ratio of 0.50.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, October 24th. The construction company reported $1.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.03. The company had revenue of $567.80 million during the quarter, compared to analyst estimates of $552.54 million. M/I Homes had a net margin of 4.17% and a return on equity of 13.46%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 earnings per share. Equities research analysts anticipate that M/I Homes Inc will post 3.97 EPS for the current fiscal year.

M/I Homes announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 14th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

A number of brokerages have recently commented on MHO. Zacks Investment Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 28th. Wedbush set a $32.00 price target on shares of M/I Homes and gave the stock a “buy” rating in a research note on Thursday, October 25th. ValuEngine lowered shares of M/I Homes from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 27th. Finally, JMP Securities set a $30.00 price target on shares of M/I Homes and gave the stock a “buy” rating in a research note on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $34.33.

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About M/I Homes

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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Institutional Ownership by Quarter for M/I Homes (NYSE:MHO)

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