Nuveen LLC Invests $11.83 Million in M/I Homes, Inc. $MHO

Nuveen LLC acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 103,601 shares of the construction company’s stock, valued at approximately $11,829,000.

Several other large investors also recently made changes to their positions in MHO. Donald Smith & CO. Inc. boosted its stake in M/I Homes by 10.2% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company’s stock worth $146,489,000 after purchasing an additional 118,778 shares during the period. Northern Trust Corp lifted its position in M/I Homes by 8.4% during the 4th quarter. Northern Trust Corp now owns 347,000 shares of the construction company’s stock worth $46,134,000 after acquiring an additional 26,820 shares during the last quarter. Royce & Associates LP lifted its position in M/I Homes by 14.4% during the 1st quarter. Royce & Associates LP now owns 314,362 shares of the construction company’s stock worth $35,894,000 after acquiring an additional 39,491 shares during the last quarter. Millennium Management LLC increased its holdings in shares of M/I Homes by 85.5% during the 4th quarter. Millennium Management LLC now owns 238,826 shares of the construction company’s stock worth $31,752,000 after purchasing an additional 110,086 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of M/I Homes by 77.5% during the 1st quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company’s stock worth $26,155,000 after purchasing an additional 100,029 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

MHO has been the topic of several research analyst reports. Wall Street Zen cut shares of M/I Homes from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Zacks Research raised shares of M/I Homes to a “strong sell” rating in a research report on Tuesday, August 12th. Zelman & Associates raised shares of M/I Homes from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 12th. Finally, Raymond James Financial cut their price target on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $162.50.

M/I Homes Stock Up 5.9%

Shares of NYSE MHO opened at $146.9630 on Friday. The company has a market capitalization of $3.94 billion, a P/E ratio of 8.07 and a beta of 1.60. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $176.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.78 and a current ratio of 7.21. The company’s 50 day moving average price is $121.90 and its 200-day moving average price is $115.57.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.43 by ($0.01). M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. The company’s revenue was up 4.8% on a year-over-year basis. Equities analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current 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.