Edgestream Partners L.P. Increases Stake in M/I Homes, Inc. (NYSE:MHO)

Edgestream Partners L.P. raised its holdings in M/I Homes, Inc. (NYSE:MHO) by 764.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,612 shares of the construction company’s stock after purchasing an additional 14,690 shares during the period. Edgestream Partners L.P.’s holdings in M/I Homes were worth $1,897,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its stake in M/I Homes by 6.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,164,189 shares of the construction company’s stock worth $154,779,000 after purchasing an additional 65,771 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of M/I Homes by 2.4% in the 4th quarter. American Century Companies Inc. now owns 850,417 shares of the construction company’s stock worth $113,063,000 after acquiring an additional 20,055 shares during the period. Franklin Resources Inc. boosted its holdings in shares of M/I Homes by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 687,488 shares of the construction company’s stock worth $91,402,000 after purchasing an additional 15,685 shares during the last quarter. Northern Trust Corp raised its position in shares of M/I Homes by 8.4% in the 4th quarter. Northern Trust Corp now owns 347,000 shares of the construction company’s stock worth $46,134,000 after buying an additional 26,820 shares during the period. Finally, Millennium Management LLC raised its position in M/I Homes by 85.5% in the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company’s stock valued at $31,752,000 after purchasing an additional 110,086 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MHO. Raymond James Financial decreased their target price on M/I Homes from $168.00 to $140.00 and set a “strong-buy” rating for the company in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of M/I Homes from a “buy” rating to a “hold” rating in a research note on Friday, April 25th.

M/I Homes Stock Performance

NYSE MHO opened at $115.74 on Friday. The company has a current ratio of 7.43, a quick ratio of 1.79 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 6.12 and a beta of 1.64. The company has a 50 day moving average of $110.90 and a 200-day moving average of $115.85. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $176.18.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, April 23rd. The construction company reported $3.98 EPS for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.18). The business had revenue of $976.09 million for the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a return on equity of 18.62% and a net margin of 12.11%. M/I Homes’s revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.78 EPS. On average, equities analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal 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.