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

Principal Financial Group Inc. lessened its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,818 shares of the construction company's stock after selling 13,356 shares during the period. Principal Financial Group Inc. owned 0.49% of M/I Homes worth $23,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MHO. SG Americas Securities LLC boosted its position in shares of M/I Homes by 48.3% in the 1st quarter. SG Americas Securities LLC now owns 3,803 shares of the construction company's stock worth $518,000 after purchasing an additional 1,238 shares in the last quarter. Swiss National Bank grew its stake in shares of M/I Homes by 0.4% during the first quarter. Swiss National Bank now owns 55,000 shares of the construction company's stock worth $7,496,000 after acquiring an additional 200 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of M/I Homes by 7.3% during the first quarter. ProShare Advisors LLC now owns 5,453 shares of the construction company's stock valued at $743,000 after acquiring an additional 373 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of M/I Homes by 3.0% during the first quarter. Westfield Capital Management Co. LP now owns 1,219,989 shares of the construction company's stock valued at $166,272,000 after acquiring an additional 35,558 shares in the last quarter. Finally, Spirepoint Private Client LLC acquired a new stake in M/I Homes in the 1st quarter worth approximately $205,000. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Price Performance

MHO traded up $0.76 on Thursday, hitting $154.37. 115,565 shares of the company's stock were exchanged, compared to its average volume of 276,875. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 8.37 and a beta of 2.24. M/I Homes, Inc. has a fifty-two week low of $101.45 and a fifty-two week high of $176.18. The firm has a 50-day moving average price of $162.90 and a 200-day moving average price of $145.02. The company has a current ratio of 6.81, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33.

Insiders Place Their Bets

In other news, CFO Phillip G. Creek sold 20,000 shares of the company'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 value 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 $2,967,200. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James increased their price objective on M/I Homes from $200.00 to $210.00 and gave the company a "strong-buy" rating in a report on Friday, August 2nd. StockNews.com downgraded shares of M/I Homes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 31st. Finally, Wedbush upgraded M/I Homes from a "neutral" rating to an "outperform" rating and increased 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.