Earnest Partners LLC reduced its stake in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,219,760 shares of the basic materials company’s stock after selling 55,893 shares during the quarter. Scotts Miracle-Gro comprises approximately 1.1% of Earnest Partners LLC’s holdings, making the stock its 19th largest position. Earnest Partners LLC’s holdings in Scotts Miracle-Gro were worth $120,146,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of SMG. Front Row Advisors LLC acquired a new stake in shares of Scotts Miracle-Gro in the first quarter valued at $25,000. NEXT Financial Group Inc lifted its holdings in shares of Scotts Miracle-Gro by 806.7% in the second quarter. NEXT Financial Group Inc now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 242 shares during the period. Capital Investment Advisory Services LLC lifted its holdings in shares of Scotts Miracle-Gro by 112.3% in the second quarter. Capital Investment Advisory Services LLC now owns 467 shares of the basic materials company’s stock valued at $48,000 after buying an additional 247 shares during the period. Zions Bancorporation N.A. acquired a new stake in shares of Scotts Miracle-Gro in the first quarter valued at $49,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Scotts Miracle-Gro by 45.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 671 shares of the basic materials company’s stock valued at $53,000 after buying an additional 211 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.
Shares of NYSE SMG opened at $101.67 on Friday. Scotts Miracle-Gro Co has a 12 month low of $57.96 and a 12 month high of $114.63. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 2.14 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 1.45 and a debt-to-equity ratio of 1.94. The business has a fifty day simple moving average of $107.62 and a 200-day simple moving average of $93.45.
Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.74 by $0.37. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. Scotts Miracle-Gro had a return on equity of 51.15% and a net margin of 12.02%. Scotts Miracle-Gro’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.67 earnings per share. As a group, sell-side analysts expect that Scotts Miracle-Gro Co will post 4.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.28%. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, August 26th. Scotts Miracle-Gro’s payout ratio is presently 62.53%.
In other Scotts Miracle-Gro news, Director Nancy G. Mistretta sold 2,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.98, for a total value of $269,950.00. Following the transaction, the director now directly owns 18,454 shares of the company’s stock, valued at approximately $1,992,662.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Hagedorn sold 38,168 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $110.13, for a total value of $4,203,441.84. Following the completion of the transaction, the chief executive officer now directly owns 150,510 shares in the company, valued at $16,575,666.30. The disclosure for this sale can be found here. Insiders have sold 794,810 shares of company stock worth $86,961,210 over the last three months. 30.37% of the stock is owned by insiders.
Several equities research analysts have recently commented on SMG shares. SunTrust Banks upped their target price on Scotts Miracle-Gro to $120.00 and gave the company a “positive” rating in a report on Thursday, August 1st. ValuEngine downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Bank of America set a $96.00 target price on Scotts Miracle-Gro and gave the company a “sell” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $87.42.
Scotts Miracle-Gro Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
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