Edgestream Partners L.P. Sells 2,428 Shares of M/I Homes, Inc. (NYSE:MHO)

Edgestream Partners L.P. trimmed its stake in M/I Homes, Inc. (NYSE:MHO) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,166 shares of the construction company’s stock after selling 2,428 shares during the period. Edgestream Partners L.P. owned approximately 0.11% of M/I Homes worth $3,562,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC lifted its stake 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 purchasing an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of M/I Homes by 28.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 500 shares of the construction company’s stock valued at $69,000 after purchasing an additional 110 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of M/I Homes in the 1st quarter valued at approximately $68,000. CWM LLC lifted its stake in shares of M/I Homes by 184.8% in the 2nd quarter. CWM LLC now owns 507 shares of the construction company’s stock valued at $62,000 after purchasing an additional 329 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of M/I Homes during the 1st quarter worth approximately $86,000. 95.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MHO. Raymond James raised their price target on M/I Homes from $200.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com lowered M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 7th.

M/I Homes Price Performance

Shares of MHO stock opened at $166.71 on Wednesday. M/I Homes, Inc. has a 52-week low of $74.79 and a 52-week high of $173.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 6.62. The firm has a market capitalization of $4.63 billion, a P/E ratio of 9.59 and a beta of 2.23. The stock has a 50 day moving average price of $152.89 and a 200 day moving average price of $133.57.

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

Insider Buying and Selling at M/I Homes

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

M/I Homes 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.