M/I Homes chief legal officer sells $42,940 in stock

Susan E. Krohne, the Chief Legal Officer and Secretary of M/I Homes, Inc. (NYSE:MHO), recently sold 374 common shares of the company. The transaction, which took place on February 19, 2025, was executed at an average price of $114.815 per share, amounting to a total sale value of $42,940. The sale comes at a time when InvestingPro data shows the stock trading significantly below its Fair Value, with management actively pursuing share buybacks.

Following this transaction, Krohne holds 6,996 shares of M/I Homes directly. This sale is part of routine stock management practices by company executives. M/I Homes, headquartered in Columbus (WA:CLC), Ohio, is a prominent player in the real estate and construction industry, boasting impressive financials with a P/E ratio of 5.9x and a strong current ratio of 7.0x. InvestingPro analysis reveals 13 additional key insights about MHO’s financial health and market position, available in the comprehensive Pro Research Report.

In other recent news, M/I Homes reported its fourth-quarter earnings for 2024, achieving a record revenue of $1.2 billion, which marks a 24% increase year-over-year. Despite this strong revenue performance, the company’s earnings per share (EPS) fell short of analyst expectations, coming in at $4.71 compared to the forecasted $4.97. For the full year, M/I Homes reported a robust revenue of $4.5 billion, a 12% increase from 2023, with improved gross margins of 26.6% and a pre-tax margin of 16.3%.

Additionally, M/I Homes announced a new share repurchase program, authorizing the buyback of up to $250 million of its common shares, replacing the previous authorization that had $107 million remaining. The company has the flexibility to conduct repurchases on the open market or through privately negotiated transactions, with no set expiration date for the authorization. Analysts have noted potential margin compression in 2025, influenced by market conditions and strategic investments.

The company’s strategic focus includes maintaining its sales pace through community count growth and continuing to offer diverse product offerings in premier locations. Meanwhile, M/I Homes has been actively managing challenges in certain markets, particularly Tampa, where demand has been more volatile. The company remains optimistic about its position, with CEO Bob Schottenstein emphasizing the long-term benefits of the homebuilding industry despite current uncertainties.

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