Sawgrass Asset Management LLC Makes New Investment in M/I Homes, Inc. (NYSE:MHO)

Sawgrass Asset Management LLC purchased a new stake in M/I Homes, Inc. (NYSE:MHO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,473 shares of the construction company’s stock, valued at approximately $203,000.

A number of other hedge funds have also modified their holdings of the business. Stratos Wealth Partners LTD. purchased a new position in M/I Homes in the 3rd quarter valued at about $908,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of M/I Homes by 25.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,577 shares of the construction company’s stock worth $637,000 after purchasing an additional 1,559 shares during the period. Strs Ohio boosted its holdings in shares of M/I Homes by 200.0% during the third quarter. Strs Ohio now owns 300 shares of the construction company’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. TD Asset Management Inc increased its stake in M/I Homes by 38.8% in the third quarter. TD Asset Management Inc now owns 21,100 shares of the construction company’s stock valued at $1,773,000 after purchasing an additional 5,900 shares during the last quarter. Finally, Assetmark Inc. lifted its position in M/I Homes by 4.6% during the third quarter. Assetmark Inc. now owns 37,986 shares of the construction company’s stock worth $3,192,000 after buying an additional 1,656 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Robert H. Schottenstein sold 19,200 shares of M/I Homes stock in a transaction that occurred 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 sale, the chief executive officer now owns 122,951 shares in the company, valued at $15,000,022. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other M/I Homes news, CEO Robert H. Schottenstein sold 19,200 shares of M/I Homes stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $122.00, for a total transaction of $2,342,400.00. Following the sale, 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 is available through the SEC website. Also, insider Susan E. Krohne sold 9,000 shares of M/I Homes stock in a transaction that occurred on 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 transaction, the insider now owns 3,609 shares of the company’s stock, valued at approximately $440,298. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,661 shares of company stock worth $3,756,663. 3.70% of the stock is currently owned by corporate insiders.

M/I Homes Trading Down 0.8 %

NYSE MHO traded down $1.00 during mid-day trading on Tuesday, hitting $122.94. The company’s stock had a trading volume of 204,437 shares, compared to its average volume of 272,391. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.91 and a quick ratio of 1.99. M/I Homes, Inc. has a 52-week low of $66.74 and a 52-week high of $140.73. The stock’s fifty day simple moving average is $123.22 and its two-hundred day simple moving average is $118.62. The firm has a market capitalization of $3.41 billion, a P/E ratio of 7.07 and a beta of 2.16.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MHO. StockNews.com upgraded shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a report on Friday, April 26th. Wedbush restated a “neutral” rating and set a $130.00 price objective (up from $116.00) on shares of M/I Homes in a report on Wednesday, April 24th.

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.