Franklin Resources Inc. Cuts Stake in M/I Homes, Inc. (NYSE:MHO)

Franklin Resources Inc. reduced its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 671,803 shares of the construction company’s stock after selling 29,497 shares during the period. Franklin Resources Inc. owned about 2.42% of M/I Homes worth $112,500,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MHO. Assenagon Asset Management S.A. increased its stake in M/I Homes by 260.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 199,877 shares of the construction company’s stock worth $34,251,000 after buying an additional 144,406 shares during the period. Vision Capital Corp acquired a new position in M/I Homes during the 3rd quarter worth approximately $12,424,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in M/I Homes by 129.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 124,546 shares of the construction company’s stock worth $21,342,000 after acquiring an additional 70,278 shares in the last quarter. Renaissance Technologies LLC grew its holdings in M/I Homes by 187.0% during the 2nd quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company’s stock worth $9,673,000 after acquiring an additional 51,600 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in M/I Homes by 7.7% during the 2nd quarter. American Century Companies Inc. now owns 703,983 shares of the construction company’s stock worth $85,984,000 after acquiring an additional 50,330 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

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

M/I Homes Trading Down 2.4 %

Shares of M/I Homes stock opened at $151.87 on Monday. The company has a fifty day simple moving average of $160.84 and a 200-day simple moving average of $150.54. M/I Homes, Inc. has a 12-month low of $109.92 and a 12-month high of $176.18. The company has a current ratio of 6.81, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 8.14 and a beta of 2.23.

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.