Donald Smith & CO. Inc. increased its position in shares of M/I Homes Inc (NYSE:MHO) by 6.3% in the third quarter, HoldingsChannel.com reports. The firm owned 2,030,436 shares of the construction company’s stock after purchasing an additional 119,518 shares during the quarter. M/I Homes comprises approximately 1.5% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 19th biggest position. Donald Smith & CO. Inc. owned about 0.07% of M/I Homes worth $48,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MHO. Teachers Retirement System of The State of Kentucky boosted its holdings in M/I Homes by 39.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 10,700 shares of the construction company’s stock worth $256,000 after buying an additional 3,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in M/I Homes by 37.6% during the third quarter. JPMorgan Chase & Co. now owns 61,662 shares of the construction company’s stock worth $1,476,000 after buying an additional 16,864 shares in the last quarter. KCS Wealth Advisory boosted its holdings in M/I Homes by 84.7% during the third quarter. KCS Wealth Advisory now owns 26,210 shares of the construction company’s stock worth $627,000 after buying an additional 12,022 shares in the last quarter. Dupont Capital Management Corp boosted its holdings in M/I Homes by 43.1% during the third quarter. Dupont Capital Management Corp now owns 28,817 shares of the construction company’s stock worth $690,000 after buying an additional 8,673 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in M/I Homes by 6.7% during the third quarter. Wells Fargo & Company MN now owns 44,683 shares of the construction company’s stock worth $1,070,000 after buying an additional 2,794 shares in the last quarter.

A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of M/I Homes from a “hold” rating to a “sell” rating in a report on Tuesday, October 30th. JMP Securities set a $30.00 price target on shares of M/I Homes and gave the stock a “buy” rating in a report on Monday, October 15th. ValuEngine downgraded shares of M/I Homes from a “sell” rating to a “strong sell” rating in a report on Thursday, September 27th. Finally, Wedbush set a $32.00 price target on shares of M/I Homes and gave the stock a “buy” rating in a report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $34.33.

NYSE:MHO opened at $22.64 on Monday. The company has a quick ratio of 0.50, a current ratio of 6.23 and a debt-to-equity ratio of 1.05. The firm has a market cap of $632.20 million, a price-to-earnings ratio of 7.86 and a beta of 0.97. M/I Homes Inc has a fifty-two week low of $21.30 and a fifty-two week high of $37.41.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, October 24th. The construction company reported $1.03 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.03. The company had revenue of $567.80 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, equities research analysts predict that M/I Homes Inc will post 3.97 EPS for the current year.

M/I Homes announced that its board has initiated a stock buyback program on Tuesday, August 14th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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M/I Homes Company Profile

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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Want to see what other hedge funds are holding MHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M/I Homes Inc (NYSE:MHO).

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

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