Summit Global Investments Cuts Holdings in M/I Homes, Inc. (NYSE:MHO)

Summit Global Investments lessened its holdings in M/I Homes, Inc. (NYSE:MHO) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,696 shares of the construction company’s stock after selling 530 shares during the period. Summit Global Investments’ holdings in M/I Homes were worth $1,611,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. SummerHaven Investment Management LLC increased its position in shares of M/I Homes by 1.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 8,198 shares of the construction company’s stock valued at $1,129,000 after purchasing an additional 88 shares during the last quarter. Strs Ohio lifted its stake in M/I Homes by 200.0% in the third quarter. Strs Ohio now owns 300 shares of the construction company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in M/I Homes in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC bought a new position in M/I Homes during the fourth quarter valued at $27,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in M/I Homes by 9.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,669 shares of the construction company’s stock worth $308,000 after buying an additional 302 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Robert H. Schottenstein sold 19,200 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $122.00, for a total transaction of $2,342,400.00. Following the completion of the transaction, the chief executive officer now directly owns 122,951 shares in the company, valued at approximately $15,000,022. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Robert H. Schottenstein sold 19,200 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $122.00, for a total value of $2,342,400.00. Following the sale, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at $15,000,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan E. Krohne sold 9,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $122.00, for a total value of $1,098,000.00. Following the completion of the sale, the insider now directly owns 3,609 shares in the company, valued at $440,298. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,661 shares of company stock valued at $3,756,663. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MHO shares. StockNews.com upgraded M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th. Wedbush reiterated a “neutral” rating and issued a $130.00 target price (up previously from $116.00) on shares of M/I Homes in a research note on Wednesday, April 24th.

M/I Homes Stock Performance

Shares of M/I Homes stock traded up $3.07 during trading hours on Friday, reaching $121.98. The company had a trading volume of 274,106 shares, compared to its average volume of 273,191. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.91 and a quick ratio of 1.86. M/I Homes, Inc. has a one year low of $65.58 and a one year high of $140.73. The firm has a market cap of $3.38 billion, a PE ratio of 7.02 and a beta of 2.16. The business has a fifty day simple moving average of $123.14 and a 200 day simple moving average of $117.39.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, April 24th. The construction company reported $4.78 EPS for the quarter, topping the consensus estimate of $3.96 by $0.82. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. On average, analysts anticipate that M/I Homes, Inc. will post 18.18 earnings per share for the current fiscal year.

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.