M/I Homes, Inc. (NYSE:MHO) Position Lifted by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its stake in shares of M/I Homes, Inc. (NYSE:MHO) by 214.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,123 shares of the construction company’s stock after acquiring an additional 10,318 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.05% of M/I Homes worth $1,847,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MHO. Boston Partners bought a new position in shares of M/I Homes in the 1st quarter worth about $1,210,000. Tidal Investments LLC lifted its position in shares of M/I Homes by 621.1% in the 1st quarter. Tidal Investments LLC now owns 12,944 shares of the construction company’s stock worth $1,764,000 after buying an additional 11,149 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of M/I Homes by 5.7% in the 1st quarter. Bridgeway Capital Management LLC now owns 191,623 shares of the construction company’s stock worth $26,116,000 after buying an additional 10,375 shares during the last quarter. Caxton Associates LP lifted its position in shares of M/I Homes by 69.0% in the 1st quarter. Caxton Associates LP now owns 13,533 shares of the construction company’s stock worth $1,844,000 after buying an additional 5,527 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of M/I Homes by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,563 shares of the construction company’s stock worth $2,394,000 after buying an additional 391 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MHO. Raymond James increased their price objective on shares of M/I Homes from $200.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Wedbush reaffirmed a “neutral” rating and issued a $130.00 price objective (up previously from $116.00) on shares of M/I Homes in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a report on Friday, April 26th.

M/I Homes Price Performance

Shares of MHO traded down $5.71 during mid-day trading on Wednesday, hitting $141.08. The company’s stock had a trading volume of 161,968 shares, compared to its average volume of 263,065. The firm has a 50-day moving average price of $133.40 and a 200 day moving average price of $127.43. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 8.45 and a beta of 2.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.62 and a quick ratio of 1.99. M/I Homes, Inc. has a fifty-two week low of $74.79 and a fifty-two week high of $173.86.

M/I Homes (NYSE:MHO) last announced its earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, topping the consensus estimate of $4.60 by $0.52. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company posted $4.12 earnings per share. On average, research analysts predict that M/I Homes, Inc. will post 18.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 in the company, valued at $20,424,620.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $166.24, for a total transaction of $459,986.08. Following the completion of the sale, the chief financial officer now directly owns 18,545 shares in the company, valued at $3,082,920.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 122,951 shares of the company’s stock, valued at $20,424,620.12. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

M/I Homes Company 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.