Posts for Ticker ‘MHO’

Looking for Next Homebuilder Merger? (DHI, TOL, NVR, MDC, LEN, KBH, RYL, MTH, HOV, MHO, SPF, XHB, ITB, PKB)

We won’t bother telling you about the homebuilder merger this morning, because we already covered it once.  But in a down and out sector, you will see that traders are looking to see if there will be other mergers in the battered group.  As you will also see, the lower market cap stocks are the ones where traders are guessing as to which will be the next take-out candidate.  Our cut off was a $100 million market cap as of yesterday and every stock in the sector that we track in the U.S. is higher.

DR Horton Inc. (DHI)….. $3.5B; +5.8% at $10.78
Toll Brothers Inc. (TOL). $3.1B; +4.5% at $18.86
NVR Inc. (NVR)……….. $2.6B; +4% at $6.86
MDC Holdings Inc. (MDC).. $1.5B; +4.5% at $30.95
Lennar Corp. (LEN)……. $1.2B; +11% at $7.98
KB Home (KBH)………… $1.1B; +6% at $14.30
Ryland Group Inc. (RYL).. $728.8M; +6% at $16.80
Meritage Homes Corp(MTH). $401.3M; +7.3% at $12.99
Hovnanian (HOV)………. $125.0M; +11% at $1.72
M/I Homes, Inc. (MHO)…. $121.7M; +2.2% at $8.72
Standard Pacific (SPF)… $100.6M; +11% at $1.00

Oddly enough, the SPDR S&P Homebuilders (NYSE: XHB) ETF is only up almost 4% at $11.37.  The other ETF, the iShares Dow Jones US Home Construction (NYSE: ITB) is up 3.5% at $9.25.  This is a slightly different ETF, but the PowerShares Dynamic Building & Construct (NYSE: PKB) is up 1.3% at $9.65 on very thin volume.

JON C. OGG

Posted on: April 8, 2009 – 8:46 am in ETF, Housing, Mergers and Buy Outs, Trading Alert, , , , , , , , , , , , , ,

M/I Homes Files To Raise Cash (MHO)

Mi_homes_logoM/I Homes, Inc. (NYSE: MHO) has just filed for a mixed shelf registration statement with the SEC that will give it the right to sell up to $250 million in securities.  The company can sell debt, common stock, preferred stock, depository shares, and/or warrants in any combination accepted. 

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Posted on: August 4, 2008 – 1:26 pm in Housing, Secondary Offering,

Many Housing Stocks Still Hitting Lows (CTX, DHI, KBH, LEN, RYL, MHO, BECN, BLDR, MAS, XHB)

Stock Tickers: CTX, DHI, KBH, LEN, RYL, MHO, BECN, BLDR, MAS, XHB

After a mid-day review of 52-week lows, there was one obvious group that makes this list now more frequently than it does not: HOMEBUILDERS.  Related companies are also on the list of usual suspects as well.

**denotes hit intraday 52-week lows but may be above now

Centex (CTX)              $25.88; prior low $26.03
DR Horton (DHI)        $13.58; prior low $13.61
KB Home (KBH)        $26.43; prior low $26.55
**Lennar (LEN)          $25.61; 25.50 prior low (today low $25.34)
**Ryland (RYL)           $25.19; prior low 24.92 (today low $24.90)
**M I Homes (MHO)   $14.82; prior low 414.81 (today low $14.65)   

Those with related activities that saw intra-day lows under the prior 52-week low ar as follows: Beacon Roofing Supply (BECN), Builders Firstsource (BLDR), and Masco (MAS).

About the only good news is that the SPDR S&P Homebuilders (AMEX:XHB) shares are actually UP on the day now with the broader markets.  XHB shares are up 0.8% at $22.81, and its 52-week range is $22.59 to $40.03.  This ETF is being led by some of the large suppliers that serve the industry rather than by the homebuilder components themselves.  Toll Brothers (TOL) and Pulte Homes (PHM) are actually up on the day.

Jon C. Ogg
September 11, 2007

Jon Ogg produces the 24/7 Wall St. SPECIAL SITUATION INVESTING NEWSLETTER; he does not own securities in the companies he covers.

Posted on: September 11, 2007 – 11:45 am in Housing, , , , , , , , , ,