Teacher Retirement System of Texas purchased a new position in shares of M/I Homes Inc (NYSE:MHO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,587 shares of the construction company’s stock, valued at approximately $295,000.
Other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. bought a new stake in M/I Homes during the third quarter worth $177,000. CAPROCK Group Inc. bought a new stake in M/I Homes during the fourth quarter worth $260,000. Magnetar Financial LLC bought a new stake in M/I Homes during the third quarter worth $205,000. Eqis Capital Management Inc. lifted its holdings in M/I Homes by 19.6% during the fourth quarter. Eqis Capital Management Inc. now owns 11,361 shares of the construction company’s stock worth $391,000 after acquiring an additional 1,864 shares during the period. Finally, KCS Wealth Advisory bought a new stake in M/I Homes during the fourth quarter worth $402,000. Institutional investors and hedge funds own 97.76% of the company’s stock.
Shares of MHO stock opened at $31.38 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 6.32 and a quick ratio of 1.17. M/I Homes Inc has a 52-week low of $23.33 and a 52-week high of $37.41. The stock has a market capitalization of $878.74, a price-to-earnings ratio of 10.91 and a beta of 1.26.
A number of brokerages recently commented on MHO. Zacks Investment Research upgraded M/I Homes from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Friday, January 5th. TheStreet lowered M/I Homes from a “b-” rating to a “c+” rating in a report on Thursday, December 28th. ValuEngine upgraded M/I Homes from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, Wedbush lifted their price target on M/I Homes from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $40.00.
M/I Homes Profile
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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