Illinois Municipal Retirement Fund Decreases Stock Position in M/I Homes, Inc. (NYSE:MHO)

Illinois Municipal Retirement Fund trimmed its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,558 shares of the construction company’s stock after selling 1,362 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of M/I Homes worth $2,143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Voss Capital LLC bought a new position in M/I Homes during the 4th quarter valued at about $3,444,000. Seven Eight Capital LP purchased a new position in shares of M/I Homes in the third quarter valued at $247,000. Vanguard Group Inc. raised its position in shares of M/I Homes by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,961,428 shares of the construction company’s stock valued at $164,838,000 after buying an additional 43,417 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of M/I Homes by 143.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 26,284 shares of the construction company’s stock valued at $3,620,000 after purchasing an additional 15,481 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in M/I Homes during the 4th quarter valued at about $9,262,000. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com upgraded shares of M/I Homes from a “hold” rating to a “buy” rating in a report on Monday, February 19th. Wedbush reiterated a “neutral” rating and set a $130.00 price objective (up from $116.00) on shares of M/I Homes in a research note on Wednesday.

M/I Homes Stock Performance

NYSE:MHO opened at $120.29 on Friday. M/I Homes, Inc. has a fifty-two week low of $63.39 and a fifty-two week high of $140.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.68 and a current ratio of 6.51. The company has a 50 day moving average price of $123.20 and a 200 day moving average price of $115.80. The stock has a market capitalization of $3.34 billion, a P/E ratio of 6.92 and a beta of 2.13.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $4.78 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Equities research analysts forecast that M/I Homes, Inc. will post 16.35 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ann Marie Hunker sold 2,461 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $128.51, for a total value of $316,263.11. Following the sale, the insider now directly owns 2,342 shares in the company, valued at approximately $300,970.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.60% 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.