Principal Financial Group Inc. Decreases Stock Holdings in M/I Homes, Inc. (NYSE:MHO)

Principal Financial Group Inc. lowered its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,818 shares of the construction company's stock after selling 13,356 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of M/I Homes worth $23,445,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in M/I Homes during the 3rd quarter valued at approximately $27,000. Signaturefd LLC raised its stake in M/I Homes by 42.8% in the 2nd quarter. Signaturefd LLC now owns 237 shares of the construction company's stock worth $29,000 after acquiring an additional 71 shares during the last quarter. Quarry LP boosted its position in M/I Homes by 148.0% in the 2nd quarter. Quarry LP now owns 558 shares of the construction company's stock worth $68,000 after purchasing an additional 333 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of M/I Homes during the 3rd quarter worth approximately $86,000. Finally, Private Trust Co. NA purchased a new position in shares of M/I Homes during the 3rd quarter valued at approximately $88,000. Institutional investors own 95.14% of the company's stock.

Insider Buying and Selling

In related news, CFO Phillip G. Creek sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $160.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 18,545 shares in the company, valued at approximately $2,967,200. The trade was 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 the SEC website. Insiders own 3.70% of the company's stock.

M/I Homes Price Performance

NYSE MHO traded up $0.23 on Thursday, hitting $136.34. The company had a trading volume of 220,806 shares, compared to its average volume of 278,768. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.81 and a quick ratio of 1.60. The company has a market capitalization of $3.78 billion, a PE ratio of 7.31 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 company's fifty day moving average price is $156.82 and its 200-day moving average price is $151.42.

Analysts Set New Price Targets

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

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.