Cornerstone Investment Partners LLC Buys New Position in M/I Homes, Inc. (NYSE:MHO)

Cornerstone Investment Partners LLC bought a new stake in M/I Homes, Inc. (NYSE:MHO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,886 shares of the construction company’s stock, valued at approximately $260,000.

A number of other large investors have also recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of M/I Homes by 0.3% in the 4th quarter. Legal & General Group Plc now owns 65,727 shares of the construction company’s stock valued at $3,035,000 after purchasing an additional 177 shares during the period. Strs Ohio boosted its position in shares of M/I Homes by 200.0% in the 3rd quarter. Strs Ohio now owns 300 shares of the construction company’s stock valued at $25,000 after purchasing an additional 200 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of M/I Homes in the 4th quarter valued at about $29,000. Rhumbline Advisers lifted its position in M/I Homes by 0.3% during the 1st quarter. Rhumbline Advisers now owns 89,475 shares of the construction company’s stock worth $3,968,000 after acquiring an additional 234 shares during the period. Finally, Walleye Capital LLC lifted its position in M/I Homes by 4.4% during the 3rd quarter. Walleye Capital LLC now owns 5,916 shares of the construction company’s stock worth $497,000 after acquiring an additional 249 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at M/I Homes

In other news, insider Ann Marie Hunker sold 2,461 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $128.51, for a total transaction of $316,263.11. Following the completion of the transaction, the insider now directly owns 2,342 shares of the company’s stock, valued at approximately $300,970.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

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

M/I Homes Stock Performance

Shares of MHO stock traded up $0.11 during trading hours on Friday, reaching $110.80. 44,282 shares of the company’s stock were exchanged, compared to its average volume of 267,243. The company has a market cap of $3.08 billion, a P/E ratio of 6.81 and a beta of 2.13. The company’s 50 day moving average is $123.78 and its two-hundred day moving average is $114.53. M/I Homes, Inc. has a 1 year low of $63.39 and a 1 year high of $140.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.84 and a quick ratio of 1.68.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, January 31st. The construction company reported $3.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.94 by ($1.28). The business had revenue of $972.59 million for the quarter, compared to analysts’ expectations of $1.19 billion. M/I Homes had a return on equity of 19.75% and a net margin of 11.54%. Equities research analysts anticipate that M/I Homes, Inc. will post 16.35 EPS for the current fiscal year.

M/I Homes Profile

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.