128,800 Shares in M/I Homes, Inc. $MHO Acquired by Jupiter Topco LLC

Jupiter Topco LLC bought a new position in shares of M/I Homes, Inc. (NYSE:MHO) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 128,800 shares of the construction company’s stock, valued at approximately $20,711,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of M/I Homes in the second quarter valued at approximately $769,776,000. Donald Smith & CO. Inc. bought a new stake in shares of M/I Homes during the 2nd quarter worth $223,736,000. Millennium Management LLC boosted its holdings in shares of M/I Homes by 107.5% during 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 during the period. Bank of New York Mellon Corp acquired a new position in M/I Homes in the 2nd quarter valued at $30,032,000. Finally, Invesco Ltd. grew its stake 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 buying an additional 161,881 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

M/I Homes Trading Up 0.5%

Shares of M/I Homes stock opened at $151.72 on Friday. M/I Homes, Inc. has a 1 year low of $116.78 and a 1 year high of $163.66. The company’s fifty day simple moving average is $151.44 and its 200-day simple moving average is $139.22. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 12.77 and a beta of 1.60. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company earned $4.42 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that M/I Homes, Inc. will post 12.62 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on MHO. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. New Street Research set a $172.00 price target on M/I Homes in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Finally, Freedom Capital raised M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.25.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 20,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total value of $2,991,200.00. Following the completion of the sale, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,624,096.08. This trade represents a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

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.