First Eagle Investment Management LLC Boosts Stake in M/I Homes, Inc. $MHO

First Eagle Investment Management LLC grew its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 110.1% during the fourth quarter, HoldingsChannel reports. The firm owned 60,100 shares of the construction company’s stock after buying an additional 31,495 shares during the period. First Eagle Investment Management LLC’s holdings in M/I Homes were worth $7,690,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MHO. Junto Capital Management LP acquired a new position in shares of M/I Homes during the third quarter worth about $35,871,000. Invesco Ltd. lifted its stake in shares of M/I Homes by 116.4% during the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after purchasing an additional 161,881 shares in the last quarter. Gradient Investments LLC lifted its stake in shares of M/I Homes by 689.4% during the fourth quarter. Gradient Investments LLC now owns 114,773 shares of the construction company’s stock worth $14,685,000 after purchasing an additional 100,233 shares in the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new position in shares of M/I Homes during the third quarter worth about $13,315,000. Finally, American Century Companies Inc. lifted its stake in shares of M/I Homes by 10.9% during the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock worth $135,282,000 after purchasing an additional 91,732 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

MHO has been the topic of several recent analyst reports. Oppenheimer set a $165.00 price target on M/I Homes in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. Zacks Research cut M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Finally, Seaport Research Partners reiterated a “neutral” rating on shares of M/I Homes in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, M/I Homes has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Insider Buying and Selling at M/I Homes

In other M/I Homes news, CEO Robert H. Schottenstein sold 14,974 shares of the company’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 $2,198,183.20. Following the sale, the chief executive officer owned 348,513 shares in the company, valued at $51,161,708.40. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Susan E. Krohne sold 491 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $72,078.80. Following the sale, the insider owned 8,771 shares in the company, valued at $1,287,582.80. The trade was a 5.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,213 shares of company stock worth $3,554,468 over the last quarter. 3.60% of the stock is owned by corporate insiders.

M/I Homes Trading Down 1.6%

Shares of NYSE MHO opened at $128.10 on Wednesday. The stock’s 50 day moving average price is $127.91 and its two-hundred day moving average price is $131.79. M/I Homes, Inc. has a 52-week low of $103.52 and a 52-week high of $158.92. The stock has a market capitalization of $3.28 billion, a P/E ratio of 9.65 and a beta of 1.65. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.09). M/I Homes had a net margin of 8.24% and a return on equity of 12.91%. The firm had revenue of $920.71 million for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company earned $3.98 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, analysts anticipate that M/I Homes, Inc. will post 12.6 earnings per share for the current fiscal year.

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.