JPMorgan Chase & Co. Increases Stake in M/I Homes, Inc. (NYSE:MHO)

JPMorgan Chase & Co. raised its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 267,684 shares of the construction company's stock after buying an additional 14,321 shares during the period. JPMorgan Chase & Co. owned about 0.96% of M/I Homes worth $45,870,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MHO. Cim Investment Management Inc. bought a new position in M/I Homes during the third quarter valued at $246,000. World Investment Advisors LLC purchased a new position in shares of M/I Homes in the 3rd quarter worth approximately $4,698,000. Invst LLC increased its position in shares of M/I Homes by 20.7% during the 3rd quarter. Invst LLC now owns 3,395 shares of the construction company's stock valued at $582,000 after purchasing an additional 582 shares during the last quarter. Geode Capital Management LLC raised its holdings in M/I Homes by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 723,797 shares of the construction company's stock valued at $124,050,000 after buying an additional 21,575 shares during the period. Finally, Vestcor Inc lifted its position in M/I Homes by 35.5% in the third quarter. Vestcor Inc now owns 11,354 shares of the construction company's stock worth $1,946,000 after buying an additional 2,973 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

MHO has been the subject of a number of research analyst reports. Wedbush raised M/I Homes from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $155.00 to $185.00 in a research note on Monday, November 4th. StockNews.com downgraded shares of M/I Homes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, October 31st.

Insider Activity at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $160.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 18,545 shares in the company, valued at approximately $2,967,200. This represents a 51.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.70% of the company's stock.

M/I Homes Stock Performance

Shares of NYSE:MHO traded down $1.77 during trading on Monday, hitting $130.18. The stock had a trading volume of 230,515 shares, compared to its average volume of 227,170. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 6.98 and a beta of 2.23. M/I Homes, Inc. has a 12-month low of $109.92 and a 12-month high of $176.18. The stock has a 50-day simple moving average of $152.55 and a two-hundred day simple moving average of $152.10. 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 Company 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.