Company profile

Ticker
MHO
Exchange
Website
CEO
Robert H. Schottenstein
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
M I HOMES INC, M I SCHOTTENSTEIN HOMES INC
SEC CIK
IRS number
311210837

MHO stock data

(
)

Calendar

30 Oct 20
19 Jan 21
31 Dec 21

News

Quarter (USD) Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from MI Homes earnings reports.

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.62 100 4.66K 6,513
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.61 200 9.32K 6,613
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.605 100 4.66K 6,813
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.6 2,537 118.22K 6,913
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.585 100 4.66K 9,450
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.58 100 4.66K 9,550
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.56 178 8.29K 9,650
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.55 900 41.9K 9,828
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.545 2,300 107.05K 10,728
4 Nov 20 Creek Phillip G Common Shares Sale back to company Dispose D No 46.54 200 9.31K 13,028
96.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 198 179 +10.6%
Opened positions 37 31 +19.4%
Closed positions 18 24 -25.0%
Increased positions 67 57 +17.5%
Reduced positions 69 66 +4.5%
13F shares
Current Prev Q Change
Total value 2.64B 2.09B +26.1%
Total shares 27.81M 27.55M +0.9%
Total puts 39.8K 12.8K +210.9%
Total calls 36.2K 39.3K -7.9%
Total put/call ratio 1.1 0.3 +237.6%
Largest owners
Shares Value Change
BLK Blackrock 4.69M $216.13M +0.3%
FMR 2.16M $99.29M +4.1%
Dimensional Fund Advisors 2M $92.19M 0.0%
Vanguard 1.82M $83.67M -5.4%
BEN Franklin Resources 1.75M $80.82M +0.1%
Donald Smith & Co. 1.08M $49.96M -11.5%
STT State Street 1.03M $47.25M +3.6%
Basswood Capital Management, L.L.C. 732.21K $33.72M +17.5%
Balyasny Asset Management 625.84K $28.82M -19.9%
Nuveen Asset Management 609.96K $28.09M -25.0%
Largest transactions
Shares Bought/sold Change
CGM Trust 330K +330K NEW
Capital Growth Management 330K +330K NEW
PRU Prudential Financial 537.49K -275.31K -33.9%
Nuveen Asset Management 609.96K -202.85K -25.0%
Monarch Partners Asset Management 0 -177.86K EXIT
Balyasny Asset Management 625.84K -155.54K -19.9%
Donald Smith & Co. 1.08M -140.4K -11.5%
Great Lakes Advisors 133.23K +133.23K NEW
Basswood Capital Management, L.L.C. 732.21K +109K +17.5%
Vanguard 1.82M -103.71K -5.4%

Financial report summary

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Risks
  • Increased competition levels in the homebuilding and mortgage lending industries could result in a reduction in our new contracts and homes delivered, along with decreases in the average sales prices of sold and delivered homes and/or decreased mortgage originations, which would have a negative impact on our results of operations.
  • A reduction in the availability of mortgage financing or a significant increase in mortgage interest rates or down payment requirements could adversely affect our business.
  • If land is not available at reasonable prices or terms, our homes sales revenue and results of operations could be negatively impacted and/or we could be required to scale back our operations in a given market.
  • Our land investment exposes us to significant risks, including potential impairment charges, that could negatively impact our profits if the market value of our inventory declines.
  • Supply shortages and risks related to the demand for skilled labor and building materials could increase costs and delay deliveries.
  • Tax law changes could make home ownership more expensive and/or less attractive.
  • We may not be able to offset the impact of inflation through price increases.
  • Our limited geographic diversification could adversely affect us if the demand for new homes in our markets declines.
  • Changes in energy prices may have an adverse effect on the economies in certain markets we operate in and our cost of building homes.
  • We may write-off intangible assets, such as goodwill.
  • We have financial needs that we meet through the capital markets, including the debt and secondary mortgage markets, and disruptions in these markets could have an adverse impact on our results of operations, financial position and/or cash flows.
  • The M/I Financial warehouse facilities will expire in 2020.
  • Reduced numbers of home sales may force us to absorb additional carrying costs.
  • If our ability to resell mortgages to investors is impaired, we may be required to broker loans.
  • Mortgage investors could seek to have us buy back loans or compensate them for losses incurred on mortgages we have sold based on claims that we breached our limited representations or warranties.
  • Our results of operations, financial condition and cash flows could be adversely affected if pending or future legal claims against us are not resolved in our favor.
  • The terms of our indebtedness may restrict our ability to operate and, if our financial performance declines, we may be unable to maintain compliance with the covenants in the documents governing our indebtedness.
  • Our indebtedness could adversely affect our financial condition, and we and our subsidiaries may incur additional indebtedness, which could increase the risks created by our indebtedness.
  • In the ordinary course of business, we are required to obtain performance bonds from surety companies, the unavailability of which could adversely affect our results of operations and/or cash flows.
  • We can be injured by failures of persons who act on our behalf to comply with applicable regulations and guidelines.
  • We could be adversely affected by efforts to impose joint employer liability on us for labor law violations committed by our subcontractors.
  • Because of the seasonal nature of our business, our quarterly operating results can fluctuate.
  • Homebuilding is subject to construction defect, product liability and warranty claims that can be significant and costly.
  • Our subcontractors can expose us to warranty and other risks.
  • Damage to our corporate reputation or brands from negative publicity could adversely affect our business, financial results and/or stock price.
  • Natural disasters and severe weather conditions could delay deliveries, increase costs and decrease demand for homes in affected areas.
  • We are subject to extensive government regulations, which could restrict our business and cause us to incur significant expense.
  • Information technology failures and data security breaches could harm our business.
  • We are dependent on the services of certain key employees, and the loss of their services could hurt our business.
Management Discussion
  • The calculations of adjusted income before income taxes, adjusted net income, and adjusted housing gross margin, each of which is a non-GAAP measure, are described and reconciled to income before income taxes, net income, and housing gross margin, respectively, which represent the most directly comparable financial measures calculated in accordance with GAAP, below under “Non-GAAP Financial Measures.”
  • Income before income taxes for the twelve months ended December 31, 2019 increased 18% from $141.3 million for the year ended December 31, 2018 to $166.0 million for the year ended December 31, 2019. Income before income taxes for 2019 was unfavorably impacted by $0.6 million of acquisition-related charges as a result of our acquisition of Pinnacle Homes in March 2018 and asset impairment charges of $5.0 million. Income before income taxes for 2018 was unfavorably impacted by $6.8 million of acquisition-related charges (which includes $5.1 million of charges related to purchase accounting adjustments and $1.7 million of acquisition and integration costs, both incurred as a result of our acquisition of Pinnacle Homes) and asset impairment charges of $5.8 million. Excluding these acquisition-related and impairment charges in both 2019 and 2018, adjusted income before income taxes increased 12% from $153.9 million in 2018 to $171.7 million in 2019.
  • In 2019, we achieved net income of $127.6 million, or $4.48 per diluted share compared to net income of $107.7 million, or $3.70 per diluted share in 2018, both of which include the after-tax impact of the acquisition-related charges and asset impairment charges noted above. Excluding these charges, adjusted net income increased 12% from $117.3 million in 2018 to $131.9 million in 2019.
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