JPMorgan Chase & Co. Raises Stock Holdings in M/I Homes, Inc. (NYSE:MHO)

JPMorgan Chase & Co. lifted its stake in M/I Homes, Inc. (NYSE:MHO) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 267,684 shares of the construction company’s stock after purchasing an additional 14,321 shares during the period. JPMorgan Chase & Co.’s holdings in M/I Homes were worth $45,870,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in M/I Homes in the 3rd quarter valued at about $27,000. Signaturefd LLC boosted its position in M/I Homes by 49.4% during the 3rd quarter. Signaturefd LLC now owns 354 shares of the construction company’s stock valued at $61,000 after acquiring an additional 117 shares in the last quarter. Quarry LP raised its holdings in M/I Homes by 148.0% in the second 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. purchased a new stake in shares of M/I Homes during the third quarter valued at about $86,000. Finally, Private Trust Co. NA bought a new stake in shares of M/I Homes in the 3rd quarter valued at about $88,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wedbush upgraded M/I Homes from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $155.00 to $185.00 in a report on Monday, November 4th. StockNews.com cut shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st.

M/I Homes Trading Up 1.0 %

M/I Homes stock opened at $131.95 on Monday. The stock has a 50-day moving average price of $152.55 and a 200 day moving average price of $151.88. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 7.07 and a beta of 2.23. M/I Homes, Inc. has a 52 week low of $109.92 and a 52 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.

Insiders Place Their Bets

In other 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 transaction of $3,200,000.00. Following the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at $2,967,200. This trade represents a 51.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is currently owned by insiders.

About M/I Homes

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.