9,488 Shares in M/I Homes, Inc. $MHO Acquired by Islay Capital Management LLC

Islay Capital Management LLC bought a new stake in M/I Homes, Inc. (NYSE:MHO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,488 shares of the construction company’s stock, valued at approximately $1,064,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Covestor Ltd raised its position in shares of M/I Homes by 134.8% during the 1st quarter. Covestor Ltd now owns 655 shares of the construction company’s stock valued at $75,000 after buying an additional 376 shares in the last quarter. Strs Ohio purchased a new position in M/I Homes in the first quarter worth $114,000. National Bank of Canada FI increased its stake in M/I Homes by 36.1% in the first quarter. National Bank of Canada FI now owns 1,164 shares of the construction company’s stock valued at $133,000 after acquiring an additional 309 shares during the last quarter. CWM LLC increased its stake in M/I Homes by 75.2% in the first quarter. CWM LLC now owns 1,284 shares of the construction company’s stock valued at $147,000 after acquiring an additional 551 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in M/I Homes by 58.2% during the second quarter. GAMMA Investing LLC now owns 1,454 shares of the construction company’s stock valued at $163,000 after purchasing an additional 535 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

MHO has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a report on Wednesday, October 8th. Zelman & Associates upgraded M/I Homes from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 12th. Raymond James Financial increased their price target on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Friday, October 24th. Finally, Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $155.00.

M/I Homes Price Performance

MHO opened at $129.45 on Friday. The stock’s 50 day simple moving average is $139.07 and its 200 day simple moving average is $126.26. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.17 and a quick ratio of 1.52. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $172.23. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 7.60 and a beta of 1.66.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, October 22nd. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.37 by ($0.45). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.16 billion. M/I Homes had a net margin of 10.56% and a return on equity of 15.72%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes announced that its board has approved a share buyback plan on Wednesday, November 12th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

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.