William Blair Investment Management LLC Invests $19.76 Million in M/I Homes, Inc. $MHO

William Blair Investment Management LLC acquired a new stake in M/I Homes, Inc. (NYSE:MHO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 122,870 shares of the construction company’s stock, valued at approximately $19,756,000. William Blair Investment Management LLC owned approximately 0.49% of M/I Homes as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MHO. BlackRock Inc. bought a new position in M/I Homes during the second quarter worth $769,776,000. Donald Smith & CO. Inc. bought a new stake in M/I Homes in the second quarter valued at $223,736,000. Millennium Management LLC raised its holdings in shares of M/I Homes by 107.5% during the fourth quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock valued at $55,592,000 after purchasing an additional 225,120 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of M/I Homes during the second quarter valued at about $30,032,000. Finally, Invesco Ltd. boosted its position in shares of M/I Homes by 116.4% during the 3rd quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after purchasing an additional 161,881 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity

In related news, CFO Phillip G. Creek sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the completion of the sale, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,624,096.08. This represents a 39.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.60% of the stock is currently owned by insiders.

M/I Homes Price Performance

Shares of NYSE MHO opened at $152.29 on Friday. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 12.82 and a beta of 1.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. M/I Homes, Inc. has a fifty-two week low of $116.78 and a fifty-two week high of $163.66. The firm’s 50-day simple moving average is $150.75 and its 200 day simple moving average is $138.73.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.01. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.42 EPS. As a group, research analysts anticipate that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MHO. Zelman & Associates lowered M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. New Street Research set a $172.00 price objective on M/I Homes in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. Finally, Freedom Capital raised shares of M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.25.

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.