Principal Financial Group Inc. increased its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 4.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 188,210 shares of the construction company’s stock after buying an additional 7,299 shares during the period. Principal Financial Group Inc. owned 0.76% of M/I Homes worth $4,611,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of MHO. OppenheimerFunds Inc. boosted its position in shares of M/I Homes by 23.1% in the first quarter. OppenheimerFunds Inc. now owns 50,089 shares of the construction company’s stock valued at $1,227,000 after buying an additional 9,399 shares during the period. ClariVest Asset Management LLC boosted its position in shares of M/I Homes by 10.1% in the first quarter. ClariVest Asset Management LLC now owns 337,322 shares of the construction company’s stock valued at $8,264,000 after buying an additional 30,907 shares during the period. Arizona State Retirement System boosted its position in shares of M/I Homes by 1.6% in the first quarter. Arizona State Retirement System now owns 12,875 shares of the construction company’s stock valued at $315,000 after buying an additional 200 shares during the period. SG Americas Securities LLC bought a new position in shares of M/I Homes during the first quarter valued at $104,000. Finally, KBC Group NV bought a new position in shares of M/I Homes during the first quarter valued at $280,000.
Shares of M/I Homes, Inc. (MHO) opened at 28.08 on Tuesday. M/I Homes, Inc. has a 1-year low of $19.99 and a 1-year high of $29.42. The company has a market capitalization of $696.22 million, a PE ratio of 13.45 and a beta of 1.11. The stock’s 50 day moving average price is $28.17 and its 200-day moving average price is $25.84.
M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, April 26th. The construction company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.39 by $0.16. M/I Homes had a return on equity of 12.59% and a net margin of 3.62%. The company had revenue of $407 million for the quarter, compared to analysts’ expectations of $376.76 million. During the same period last year, the firm posted $0.30 earnings per share. M/I Homes’s revenue was up 25.5% compared to the same quarter last year. On average, equities analysts predict that M/I Homes, Inc. will post $2.99 EPS for the current year.
Several equities analysts have weighed in on the company. BidaskClub cut M/I Homes from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Zacks Investment Research cut M/I Homes from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. ValuEngine upgraded M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Wedbush set a $32.00 target price on M/I Homes and gave the stock a “buy” rating in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $31.50.
In related news, insider Phillip G. Creek sold 20,808 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $27.38, for a total transaction of $569,723.04. Following the sale, the insider now directly owns 60,971 shares of the company’s stock, valued at $1,669,385.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP J Thomas Mason sold 27,594 shares of the stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $28.42, for a total value of $784,221.48. Following the sale, the vice president now directly owns 19,594 shares in the company, valued at $556,861.48. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
M/I Homes Company 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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