Shell Asset Management Co. Trims Position in M/I Homes, Inc. (NYSE:MHO)

Shell Asset Management Co. lessened its stake in shares of M/I Homes, Inc. (NYSE:MHO – Get Rating) by 16.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,248 shares of the construction company’s stock after selling 1,266 shares during the period. Shell Asset Management Co.’s holdings in M/I Homes were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MHO. Handelsbanken Fonder AB acquired a new position in M/I Homes in the 4th quarter valued at about $212,000. ARGI Investment Services LLC acquired a new position in shares of M/I Homes during the fourth quarter worth about $3,496,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of M/I Homes by 22.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,018 shares of the construction company’s stock worth $278,000 after buying an additional 1,123 shares in the last quarter. New York State Common Retirement Fund increased its holdings in M/I Homes by 4.6% in the fourth quarter. New York State Common Retirement Fund now owns 71,971 shares of the construction company’s stock valued at $3,324,000 after buying an additional 3,178 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in M/I Homes in the fourth quarter valued at $540,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

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M/I Homes Price Performance

MHO stock opened at $67.34 on Tuesday. The company has a current ratio of 6.17, a quick ratio of 1.28 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.87 billion, a P/E ratio of 3.79 and a beta of 1.91. The business has a 50 day simple moving average of $61.74 and a 200-day simple moving average of $53.56. M/I Homes, Inc. has a twelve month low of $34.33 and a twelve month high of $68.53.

Insider Activity at M/I Homes

In other M/I Homes news, CEO Robert H. Schottenstein sold 8,500 shares of M/I Homes stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $59.00, for a total value of $501,500.00. Following the transaction, the chief executive officer now directly owns 103,406 shares in the company, valued at $6,100,954. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other M/I Homes news, CEO Robert H. Schottenstein sold 8,500 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $59.00, for a total value of $501,500.00. Following the transaction, the chief executive officer now directly owns 103,406 shares of the company’s stock, valued at approximately $6,100,954. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Phillip G. Creek sold 8,399 shares of M/I Homes stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $59.00, for a total value of $495,541.00. Following the completion of the sale, the chief financial officer now owns 15,162 shares in the company, valued at $894,558. The disclosure for this sale can be found here. Insiders sold a total of 70,560 shares of company stock worth $4,475,282 in the last 90 days. 3.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MHO shares. Wedbush increased their price objective on M/I Homes from $63.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, February 6th. StockNews.com downgraded shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 4th.

M/I Homes Company Profile

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M/I Homes, Inc engages in the construction and development of residential properties. It operates through the Homebuilding and Financial Services segments. The Homebuilding segment includes Northern and Southern Homebuilding which designs, markets, constructs, and sells single-family homes and attached townhomes to first-time, millennial, move-up, empty-nester, and luxury buyers.

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