J.W. Cole Advisors Inc. Invests $542,000 in M/I Homes, Inc. (NYSE:MHO)

J.W. Cole Advisors Inc. purchased a new position in M/I Homes, Inc. (NYSE:MHO) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,934 shares of the construction company’s stock, valued at approximately $542,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Westfield Capital Management Co. LP purchased a new stake in M/I Homes in the third quarter valued at approximately $82,185,000. Pacer Advisors Inc. raised its stake in M/I Homes by 49.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,070,909 shares of the construction company’s stock valued at $147,507,000 after purchasing an additional 354,182 shares in the last quarter. Comerica Bank purchased a new stake in M/I Homes in the third quarter valued at approximately $9,554,000. American Century Companies Inc. raised its stake in M/I Homes by 27.0% in the third quarter. American Century Companies Inc. now owns 480,872 shares of the construction company’s stock valued at $40,412,000 after purchasing an additional 102,358 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in M/I Homes in the fourth quarter valued at approximately $9,262,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of M/I Homes from a “hold” rating to a “buy” rating in a research note on Monday, February 19th.

Insider Transactions at M/I Homes

In other news, insider Ann Marie Hunker sold 2,461 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $128.51, for a total value of $316,263.11. Following the transaction, the insider now owns 2,342 shares in the company, valued at $300,970.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.

M/I Homes Trading Up 6.0 %

MHO stock opened at $119.47 on Wednesday. The company has a market capitalization of $3.32 billion, a PE ratio of 7.36 and a beta of 2.13. M/I Homes, Inc. has a one year low of $63.39 and a one year high of $140.73. The company’s 50 day moving average price is $123.29 and its two-hundred day moving average price is $115.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.68 and a current ratio of 6.84.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, January 31st. The construction company reported $3.66 EPS for the quarter, missing the consensus estimate of $4.94 by ($1.28). M/I Homes had a return on equity of 19.75% and a net margin of 11.54%. The business had revenue of $972.59 million for the quarter, compared to analysts’ expectations of $1.19 billion. As a group, analysts predict that M/I Homes, Inc. will post 16.35 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.