Segall Bryant & Hamill LLC Purchases New Stake in M/I Homes, Inc. $MHO

Segall Bryant & Hamill LLC acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,548 shares of the construction company’s stock, valued at approximately $3,401,000. Segall Bryant & Hamill LLC owned approximately 0.09% of M/I Homes at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Rafferty Asset Management LLC lifted its position in shares of M/I Homes by 83.2% during the third quarter. Rafferty Asset Management LLC now owns 39,831 shares of the construction company’s stock worth $5,753,000 after purchasing an additional 18,095 shares during the last quarter. American Century Companies Inc. lifted its holdings in M/I Homes by 10.9% during the 3rd quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock worth $135,282,000 after buying an additional 91,732 shares during the last quarter. Huntington National Bank lifted its holdings in M/I Homes by 1.4% during the 3rd quarter. Huntington National Bank now owns 16,567 shares of the construction company’s stock worth $2,393,000 after buying an additional 231 shares during the last quarter. Choreo LLC acquired a new position in shares of M/I Homes in the 3rd quarter worth approximately $206,000. Finally, Brucke Financial Inc. bought a new stake in shares of M/I Homes in the 3rd quarter valued at approximately $255,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity

In other news, insider Susan E. Krohne sold 491 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $72,078.80. Following the completion of the transaction, the insider directly owned 8,771 shares in the company, valued at approximately $1,287,582.80. The trade was a 5.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Phillip G. Creek sold 8,616 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total value of $1,264,828.80. Following the completion of the transaction, the chief financial officer directly owned 45,815 shares of the company’s stock, valued at $6,725,642. This trade represents a 15.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 49,213 shares of company stock valued at $7,115,268. Insiders own 3.50% of the company’s stock.

M/I Homes Stock Performance

Shares of MHO opened at $138.08 on Friday. The firm has a fifty day moving average of $137.52 and a 200-day moving average of $137.68. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 9.39 and a beta of 1.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $158.92.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.03. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $4.71 EPS. M/I Homes’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 12th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on MHO. Citizens Jmp started coverage on M/I Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a report on Thursday, January 22nd. Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, Oppenheimer set a $165.00 target price on shares of M/I Homes in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, M/I Homes presently has an average rating of “Moderate Buy” and a consensus price target of $161.67.

M/I Homes Company 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.