M/I Homes (NYSE:MHO) Reaches New 52-Week High – Here’s Why

Shares of M/I Homes, Inc. (NYSE:MHO) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $175.15 and last traded at $174.79, with a volume of 30564 shares. The stock had previously closed at $169.64.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday. Raymond James raised their target price on shares of M/I Homes from $200.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd.

M/I Homes Stock Up 2.0 %

The company has a market cap of $4.86 billion, a P/E ratio of 9.89 and a beta of 2.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.62 and a quick ratio of 1.76. The company’s 50-day moving average is $160.57 and its two-hundred day moving average is $139.59.

M/I Homes (NYSE:MHO) last issued its earnings results on Tuesday, July 30th. The construction company reported $5.12 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company posted $4.12 earnings per share. As a group, equities analysts predict that M/I Homes, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.12, for a total value of $347,024.68. Following the transaction, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at approximately $20,424,620.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.12, for a total value of $347,024.68. Following the transaction, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at approximately $20,424,620.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the transaction, the chief financial officer now directly owns 18,545 shares in the company, valued at approximately $3,082,920.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On M/I Homes

A number of institutional investors have recently bought and sold shares of MHO. Vanguard Group Inc. increased its stake in M/I Homes by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock worth $283,313,000 after buying an additional 95,437 shares in the last quarter. Renaissance Technologies LLC increased its stake in M/I Homes by 187.0% in the 2nd quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company’s stock worth $9,673,000 after buying an additional 51,600 shares in the last quarter. American Century Companies Inc. increased its stake in M/I Homes by 7.7% in the 2nd quarter. American Century Companies Inc. now owns 703,983 shares of the construction company’s stock worth $85,984,000 after buying an additional 50,330 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in M/I Homes by 3.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,219,989 shares of the construction company’s stock worth $166,272,000 after buying an additional 35,558 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in M/I Homes in the 1st quarter worth $4,281,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.