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

Segall Bryant & Hamill LLC purchased a new position in shares of M/I Homes, Inc. (NYSE:MHO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 23,548 shares of the construction company’s stock, valued at approximately $3,401,000.

A number of other institutional investors also recently made changes to their positions in the stock. Salomon & Ludwin LLC bought a new position in shares of M/I Homes in the third quarter valued at approximately $28,000. Jones Financial Companies Lllp lifted its position in M/I Homes by 73.1% in the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after purchasing an additional 87 shares during the period. EverSource Wealth Advisors LLC boosted its stake in M/I Homes by 90.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after purchasing an additional 135 shares in the last quarter. Private Trust Co. NA bought a new position in M/I Homes during the 3rd quarter valued at $38,000. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of M/I Homes by 58.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock valued at $52,000 after purchasing an additional 170 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

M/I Homes Trading Down 4.0%

Shares of NYSE MHO opened at $138.08 on Friday. The company has a quick ratio of 1.86, a current ratio of 8.12 and a debt-to-equity ratio of 0.31. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $158.92. 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 business has a fifty day simple moving average of $137.52 and a 200-day simple moving average of $137.68.

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

M/I Homes announced that its Board of Directors has approved a share buyback program on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other M/I Homes news, insider Susan E. Krohne sold 5,000 shares of M/I Homes stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $134.28, for a total transaction of $671,400.00. Following the transaction, the insider directly owned 6,167 shares in the company, valued at approximately $828,104.76. The trade was a 44.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert H. Schottenstein sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $144.47, for a total transaction of $2,889,400.00. Following the sale, the chief executive officer directly owned 313,874 shares in the company, valued at approximately $45,345,376.78. This trade represents a 5.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 49,213 shares of company stock valued at $7,115,268. Company insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

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

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.