State of New Jersey Common Pension Fund D Takes Position in M/I Homes, Inc. (NYSE:MHO)

State of New Jersey Common Pension Fund D bought a new position in shares of M/I Homes, Inc. (NYSE:MHO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,053 shares of the construction company’s stock, valued at approximately $2,065,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Colonial River Investments LLC purchased a new position in M/I Homes during the third quarter valued at $397,000. Axxcess Wealth Management LLC acquired a new position in shares of M/I Homes during the 3rd quarter worth about $395,000. Assetmark Inc. lifted its stake in M/I Homes by 3.9% in the 3rd quarter. Assetmark Inc. now owns 43,498 shares of the construction company’s stock valued at $7,454,000 after buying an additional 1,626 shares in the last quarter. Olympiad Research LP boosted its holdings in M/I Homes by 7.2% in the 3rd quarter. Olympiad Research LP now owns 2,247 shares of the construction company’s stock worth $385,000 after buying an additional 150 shares during the last quarter. Finally, Arlington Capital Management Inc. increased its stake in M/I Homes by 2.0% during the 3rd quarter. Arlington Capital Management Inc. now owns 11,119 shares of the construction company’s stock worth $1,905,000 after buying an additional 219 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 value of $3,200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 18,545 shares in the company, valued at approximately $2,967,200. This represents a 51.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com lowered M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Raymond James upped their target price on shares of M/I Homes from $200.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Wedbush raised shares of M/I Homes from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $155.00 to $185.00 in a research note on Monday, November 4th.

M/I Homes Price Performance

NYSE:MHO opened at $155.42 on Friday. M/I Homes, Inc. has a one year low of $102.02 and a one year high of $176.18. The stock has a market cap of $4.31 billion, a PE ratio of 8.33 and a beta of 2.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 6.81. The stock has a 50 day moving average price of $162.88 and a 200 day moving average price of $145.08.

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.