Arizona State Retirement System Boosts Stock Holdings in M/I Homes, Inc. (NYSE:MHO)

Arizona State Retirement System raised its holdings in M/I Homes, Inc. (NYSE:MHO) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,785 shares of the construction company’s stock after purchasing an additional 132 shares during the quarter. Arizona State Retirement System’s holdings in M/I Homes were worth $951,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of M/I Homes by 42.8% in the 2nd quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock valued at $29,000 after buying an additional 71 shares during the period. CWM LLC lifted its holdings in M/I Homes by 184.8% in the second quarter. CWM LLC now owns 507 shares of the construction company’s stock valued at $62,000 after acquiring an additional 329 shares during the period. Hollencrest Capital Management purchased a new stake in shares of M/I Homes during the 1st quarter worth $68,000. Nomura Asset Management Co. Ltd. grew its stake in shares of M/I Homes by 28.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 500 shares of the construction company’s stock worth $69,000 after purchasing an additional 110 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in shares of M/I Homes in the 1st quarter valued at about $86,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

MHO has been the topic of a number of research analyst reports. Raymond James boosted their price objective on shares of M/I Homes from $200.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com cut M/I Homes from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 7th.

M/I Homes Price Performance

Shares of NYSE MHO opened at $166.49 on Friday. The company has a current ratio of 6.62, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $150.98 and its 200 day moving average price is $132.88. M/I Homes, Inc. has a 52 week low of $74.79 and a 52 week high of $173.86. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 9.58 and a beta of 2.23.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, beating the consensus estimate of $4.60 by $0.52. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $4.12 earnings per share. As a group, research analysts forecast that M/I Homes, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Buying and Selling at M/I Homes

In other news, CEO Robert H. Schottenstein sold 2,089 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.12, for a total value of $347,024.68. Following the completion of the transaction, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at $20,424,620.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Robert H. Schottenstein sold 2,089 shares of M/I Homes stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $166.12, for a total transaction of $347,024.68. Following the completion of the sale, the chief executive officer now owns 122,951 shares in the company, valued at approximately $20,424,620.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Phillip G. Creek sold 2,767 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $166.24, for a total transaction of $459,986.08. Following the completion of the transaction, the chief financial officer now owns 18,545 shares in the company, valued at $3,082,920.80. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

About M/I Homes

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.