Basswood Capital Management L.L.C. Acquires 5,571 Shares of M/I Homes, Inc. (NYSE:MHO)

Basswood Capital Management L.L.C. boosted its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,634 shares of the construction company's stock after purchasing an additional 5,571 shares during the period. M/I Homes makes up about 2.8% of Basswood Capital Management L.L.C.'s investment portfolio, making the stock its 5th biggest holding. Basswood Capital Management L.L.C. owned approximately 1.13% of M/I Homes worth $53,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in M/I Homes by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,563 shares of the construction company's stock worth $2,394,000 after acquiring an additional 391 shares during the period. Boston Partners bought a new position in M/I Homes during the 1st quarter valued at $1,210,000. Harbor Capital Advisors Inc. increased its position in shares of M/I Homes by 214.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,123 shares of the construction company's stock worth $1,847,000 after purchasing an additional 10,318 shares during the last quarter. CWM LLC raised its stake in shares of M/I Homes by 184.8% in the 2nd quarter. CWM LLC now owns 507 shares of the construction company's stock valued at $62,000 after purchasing an additional 329 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its position in shares of M/I Homes by 1,359.2% during the second quarter. Contravisory Investment Management Inc. now owns 1,897 shares of the construction company's stock worth $232,000 after purchasing an additional 1,767 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $160.00, for a total value of $3,200,000.00. Following the sale, the chief financial officer now owns 18,545 shares in the company, valued at approximately $2,967,200. This trade represents a 51.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MHO. StockNews.com cut M/I Homes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, October 31st. Wedbush raised M/I Homes from a "neutral" rating to an "outperform" rating and upped their price target for the company from $155.00 to $185.00 in a research report on Monday, November 4th.

M/I Homes Stock Performance

MHO stock traded up $2.10 during midday trading on Monday, reaching $167.13. The company had a trading volume of 149,391 shares, compared to its average volume of 273,803. The firm has a market capitalization of $4.64 billion, a PE ratio of 8.93 and a beta of 2.24. The stock has a 50 day moving average price of $162.43 and a 200 day moving average price of $148.34. M/I Homes, Inc. has a fifty-two week low of $108.10 and a fifty-two week high of $176.18. The company has a quick ratio of 1.60, a current ratio of 6.81 and a debt-to-equity ratio of 0.33.

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.