TIAA CREF Investment Management LLC Sells 3,977 Shares of M/I Homes, Inc. (NYSE:MHO)
TIAA CREF Investment Management LLC cut its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 5.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,404 shares of the construction company’s stock after selling 3,977 shares during the period. TIAA CREF Investment Management LLC’s holdings in M/I Homes were worth $1,553,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in M/I Homes during the first quarter valued at about $104,000. Mason Street Advisors LLC increased its stake in M/I Homes by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,790 shares of the construction company’s stock valued at $142,000 after buying an additional 399 shares during the period. Quantbot Technologies LP purchased a new stake in M/I Homes during the first quarter valued at about $156,000. Airain ltd purchased a new stake in M/I Homes during the first quarter valued at about $214,000. Finally, Louisiana State Employees Retirement System increased its stake in M/I Homes by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the construction company’s stock valued at $247,000 after buying an additional 200 shares during the period.
Shares of M/I Homes, Inc. (NYSE MHO) traded down 0.28% during trading on Friday, reaching $25.17. The company’s stock had a trading volume of 188,983 shares. The stock has a 50-day moving average of $27.10 and a 200-day moving average of $26.15. M/I Homes, Inc. has a 52-week low of $20.40 and a 52-week high of $29.42. The stock has a market cap of $631.87 million, a P/E ratio of 11.91 and a beta of 1.09.
M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.05. M/I Homes had a return on equity of 12.99% and a net margin of 3.57%. The firm had revenue of $456.87 million during the quarter, compared to analyst estimates of $456.56 million. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts predict that M/I Homes, Inc. will post $3.00 earnings per share for the current fiscal year.
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Several research firms recently issued reports on MHO. Wedbush restated an “outperform” rating and issued a $27.00 price target on shares of M/I Homes in a research note on Wednesday, April 26th. BidaskClub downgraded M/I Homes from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Zacks Investment Research downgraded M/I Homes from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. JMP Securities raised M/I Homes from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Monday, July 31st. They noted that the move was a valuation call. Finally, ValuEngine cut M/I Homes from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $31.00.
About M/I Homes
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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