Strs Ohio Buys 69,300 Shares of M/I Homes, Inc. $MHO

Strs Ohio raised its stake in M/I Homes, Inc. (NYSE:MHO) by 11,550.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,900 shares of the construction company’s stock after buying an additional 69,300 shares during the period. Strs Ohio’s holdings in M/I Homes were worth $10,096,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. WealthCollab LLC lifted its stake in shares of M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock valued at $69,000 after acquiring an additional 87 shares during the last quarter. SkyOak Wealth LLC increased its holdings in M/I Homes by 3.8% in the 3rd quarter. SkyOak Wealth LLC now owns 2,445 shares of the construction company’s stock worth $353,000 after purchasing an additional 90 shares in the last quarter. Nisa Investment Advisors LLC raised its position in M/I Homes by 4.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,983 shares of the construction company’s stock valued at $286,000 after purchasing an additional 93 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of M/I Homes by 1.3% during the second quarter. KLP Kapitalforvaltning AS now owns 7,800 shares of the construction company’s stock valued at $875,000 after purchasing an additional 100 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of M/I Homes by 1.8% during the second quarter. Bank of Montreal Can now owns 6,295 shares of the construction company’s stock valued at $706,000 after purchasing an additional 113 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Trading Down 1.9%

MHO opened at $133.22 on Monday. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $158.92. The company has a fifty day moving average of $132.45 and a 200-day moving average of $134.66. The stock has a market cap of $3.48 billion, a PE ratio of 7.82 and a beta of 1.75. The company has a quick ratio of 1.59, a current ratio of 7.15 and a debt-to-equity ratio of 0.29.

M/I Homes declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MHO shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday. Citigroup initiated coverage on shares of M/I Homes in a report on Wednesday, January 7th. They set an “outperform” rating on the stock. Raymond James Financial raised their price target on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday, October 24th. Finally, Citizens Jmp initiated coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.00.

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.