Cornerstone Investment Partners LLC Invests $260,000 in M/I Homes, Inc. (NYSE:MHO)

Cornerstone Investment Partners LLC bought a new position in shares of M/I Homes, Inc. (NYSE:MHO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,886 shares of the construction company’s stock, valued at approximately $260,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of M/I Homes during the fourth quarter worth about $29,000. Strs Ohio increased its position in shares of M/I Homes by 200.0% during the third quarter. Strs Ohio now owns 300 shares of the construction company’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of M/I Homes by 1,979.2% during the third quarter. Clearstead Advisors LLC now owns 499 shares of the construction company’s stock worth $42,000 after acquiring an additional 475 shares during the last quarter. Quarry LP increased its holdings in M/I Homes by 120.9% in the first quarter. Quarry LP now owns 815 shares of the construction company’s stock valued at $51,000 after buying an additional 446 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in M/I Homes in the first quarter valued at about $43,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Stock Up 0.1 %

M/I Homes stock traded up $0.11 during midday trading on Friday, hitting $110.80. The stock had a trading volume of 44,282 shares, compared to its average volume of 267,243. The company has a current ratio of 6.84, a quick ratio of 1.68 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.08 billion, a P/E ratio of 6.81 and a beta of 2.13. M/I Homes, Inc. has a 12 month low of $63.39 and a 12 month high of $140.73. The business has a fifty day moving average price of $123.78 and a 200 day moving average price of $114.53.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, January 31st. The construction company reported $3.66 earnings per share for the quarter, missing the consensus estimate of $4.94 by ($1.28). The firm had revenue of $972.59 million during the quarter, compared to the consensus estimate of $1.19 billion. M/I Homes had a net margin of 11.54% and a return on equity of 19.75%. Research analysts predict that M/I Homes, Inc. will post 16.35 EPS for the current year.

Insider Buying and Selling at M/I Homes

In other M/I Homes news, insider Ann Marie Hunker sold 2,461 shares of M/I Homes stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $128.51, for a total value of $316,263.11. Following the completion of the transaction, the insider now directly owns 2,342 shares in the company, valued at $300,970.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised M/I Homes from a “hold” rating to a “buy” rating in a report on Monday, February 19th.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.