Lazard Asset Management LLC Acquires New Holdings in M/I Homes, Inc. $MHO

Lazard Asset Management LLC bought a new stake in shares of M/I Homes, Inc. (NYSE:MHO) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,861 shares of the construction company’s stock, valued at approximately $473,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MHO. Donald Smith & CO. Inc. increased its stake in shares of M/I Homes by 5.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company’s stock valued at $187,234,000 after purchasing an additional 82,090 shares during the period. State Street Corp boosted its position in shares of M/I Homes by 2.2% during the fourth quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock worth $171,093,000 after buying an additional 28,187 shares during the period. Millennium Management LLC grew its holdings in M/I Homes by 107.5% in the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock worth $55,592,000 after buying an additional 225,120 shares in the last quarter. Royce & Associates LP grew its holdings in M/I Homes by 5.3% in the 4th quarter. Royce & Associates LP now owns 326,606 shares of the construction company’s stock worth $41,789,000 after buying an additional 16,445 shares in the last quarter. Finally, Invesco Ltd. increased its position in M/I Homes by 116.4% in the 3rd quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock valued at $43,464,000 after acquiring an additional 161,881 shares during the period. Institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling at M/I Homes

In other news, CFO Phillip G. Creek sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the sale, the chief financial officer owned 30,918 shares in the company, valued at $4,624,096.08. The trade was a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is currently owned by company insiders.

M/I Homes Trading Down 2.6%

NYSE:MHO opened at $146.63 on Friday. The stock has a fifty day simple moving average of $147.78 and a 200 day simple moving average of $137.43. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 12.34 and a beta of 1.60. M/I Homes, Inc. has a 1-year low of $116.78 and a 1-year high of $163.66. The company has a quick ratio of 1.59, a current ratio of 7.65 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company earned $4.42 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. Sell-side analysts forecast that M/I Homes, Inc. will post 12.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Zelman & Associates cut shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research report on Friday, May 15th. New Street Research set a $172.00 target price on shares of M/I Homes in a research note on Tuesday. Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, Freedom Capital raised shares of M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, M/I Homes currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.25.

M/I Homes Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.