Summit Global Investments Decreases Stock Holdings in M/I Homes, Inc. (NYSE:MHO)

Summit Global Investments trimmed its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 18.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,505 shares of the construction company’s stock after selling 1,663 shares during the quarter. Summit Global Investments’ holdings in M/I Homes were worth $998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Magnetar Financial LLC purchased a new stake in shares of M/I Homes during the fourth quarter valued at approximately $341,000. Teacher Retirement System of Texas increased its position in shares of M/I Homes by 8.0% during the fourth quarter. Teacher Retirement System of Texas now owns 24,900 shares of the construction company’s stock valued at $3,310,000 after acquiring an additional 1,846 shares during the last quarter. Xponance Inc. increased its position in shares of M/I Homes by 10.7% during the fourth quarter. Xponance Inc. now owns 1,922 shares of the construction company’s stock valued at $256,000 after acquiring an additional 185 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of M/I Homes by 5.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,437 shares of the construction company’s stock valued at $324,000 after acquiring an additional 131 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of M/I Homes during the fourth quarter valued at approximately $331,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MHO has been the subject of a number of research analyst reports. StockNews.com raised M/I Homes from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Raymond James reissued a “strong-buy” rating and issued a $168.00 target price (down from $210.00) on shares of M/I Homes in a research report on Thursday, January 30th. Finally, Seaport Res Ptn raised M/I Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th.

M/I Homes Stock Performance

NYSE:MHO opened at $115.89 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.65 and a quick ratio of 1.93. The business has a fifty day simple moving average of $123.00 and a two-hundred day simple moving average of $144.49. M/I Homes, Inc. has a 1 year low of $109.92 and a 1 year high of $176.18. The company has a market capitalization of $3.14 billion, a P/E ratio of 5.88 and a beta of 2.31.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.71 earnings per share for the quarter, missing the consensus estimate of $4.96 by ($0.25). M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. On average, analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

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.