State Street Corp Sells 23,906 Shares of M/I Homes, Inc. (NYSE:MHO)

State Street Corp trimmed its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,438,370 shares of the construction company's stock after selling 23,906 shares during the period. State Street Corp owned about 5.18% of M/I Homes worth $246,479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Assenagon Asset Management S.A. grew its position in M/I Homes by 42.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 55,471 shares of the construction company's stock worth $6,775,000 after purchasing an additional 16,413 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of M/I Homes during the second quarter valued at $1,124,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of M/I Homes during the third quarter valued at $1,388,000. Renaissance Technologies LLC raised its position in M/I Homes by 187.0% during the second quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company's stock valued at $9,673,000 after buying an additional 51,600 shares during the period. Finally, Algert Global LLC lifted its stake in M/I Homes by 23.8% in the 2nd quarter. Algert Global LLC now owns 63,105 shares of the construction company's stock worth $7,708,000 after acquiring an additional 12,123 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Buying and Selling at M/I Homes

In related news, CFO Phillip G. Creek sold 20,000 shares of the 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 sale, the chief financial officer now directly owns 18,545 shares in the company, valued at $2,967,200. This represents a 51.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company's stock.

M/I Homes Stock Performance

Shares of MHO traded down $0.74 on Thursday, reaching $155.74. 401,864 shares of the stock traded hands, compared to its average volume of 273,719. M/I Homes, Inc. has a 12 month low of $109.92 and a 12 month high of $176.18. 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 stock's 50-day moving average price is $161.11 and its 200-day moving average price is $150.17. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 8.35 and a beta of 2.23.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MHO shares. Wedbush upgraded M/I Homes from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $155.00 to $185.00 in a research note on Monday, November 4th. StockNews.com cut M/I Homes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, October 31st.

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.