Icon Advisers Inc. Co. lessened its position in M/I Homes Inc (NYSE:MHO) by 30.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,600 shares of the construction company’s stock after selling 10,800 shares during the period. Icon Advisers Inc. Co. owned 0.09% of M/I Homes worth $589,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Legal & General Group Plc grew its holdings in M/I Homes by 4.1% in the 1st quarter. Legal & General Group Plc now owns 51,705 shares of the construction company’s stock worth $1,635,000 after acquiring an additional 2,025 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of M/I Homes by 6.7% in the 3rd quarter. Wells Fargo & Company MN now owns 44,683 shares of the construction company’s stock worth $1,070,000 after purchasing an additional 2,794 shares during the period. Bank of New York Mellon Corp lifted its position in shares of M/I Homes by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 538,575 shares of the construction company’s stock worth $14,262,000 after purchasing an additional 3,352 shares during the period. OppenheimerFunds Inc. lifted its position in shares of M/I Homes by 10.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 43,339 shares of the construction company’s stock worth $1,148,000 after purchasing an additional 4,006 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of M/I Homes by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 73,732 shares of the construction company’s stock worth $1,952,000 after purchasing an additional 4,302 shares during the period. 95.68% of the stock is currently owned by institutional investors and hedge funds.

MHO has been the subject of several research analyst reports. JMP Securities set a $30.00 target price on shares of M/I Homes and gave the stock a “buy” rating in a research report on Monday, October 15th. ValuEngine cut shares of M/I Homes from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Zacks Investment Research cut shares of M/I Homes from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. Finally, Wedbush set a $32.00 target price on shares of M/I Homes and gave the stock a “buy” rating in a research report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $34.33.

NYSE:MHO opened at $23.66 on Friday. M/I Homes Inc has a 12 month low of $21.30 and a 12 month high of $37.41. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.23 and a quick ratio of 0.50. The stock has a market capitalization of $688.88 million, a PE ratio of 6.80 and a beta of 0.97.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, October 24th. The construction company reported $1.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.03. M/I Homes had a net margin of 4.17% and a return on equity of 13.46%. The company had revenue of $567.80 million during the quarter, compared to analysts’ expectations of $552.54 million. During the same period last year, the company posted $0.71 EPS. M/I Homes’s revenue was up 19.2% on a year-over-year basis. As a group, research analysts forecast that M/I Homes Inc will post 3.97 earnings per share for the current year.

M/I Homes declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 14th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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M/I Homes Profile

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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Institutional Ownership by Quarter for M/I Homes (NYSE:MHO)

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