World Asset Management Inc Buys Shares of 1,626 Scotts Miracle-Gro Co (NYSE:SMG)

World Asset Management Inc bought a new stake in Scotts Miracle-Gro Co (NYSE:SMG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,626 shares of the basic materials company’s stock, valued at approximately $219,000.

Other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at approximately $2,654,000. Rockefeller Capital Management L.P. increased its position in shares of Scotts Miracle-Gro by 392.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 246 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 196 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at approximately $27,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Scotts Miracle-Gro by 62.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its position in shares of Scotts Miracle-Gro by 192.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 351 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 231 shares during the last quarter. 63.07% of the stock is currently owned by institutional investors and hedge funds.

SMG has been the subject of several research analyst reports. TheStreet upgraded shares of Scotts Miracle-Gro from a “c+” rating to a “b” rating in a report on Wednesday, May 6th. Raymond James cut shares of Scotts Miracle-Gro from a “strong-buy” rating to a “market perform” rating and set a $152.00 target price for the company. in a report on Tuesday, May 26th. SunTrust Banks upped their target price on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. Finally, William Blair restated a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $128.50.

Shares of NYSE:SMG opened at $158.57 on Friday. The stock has a market cap of $8.80 billion, a P/E ratio of 27.82 and a beta of 0.93. The firm has a fifty day moving average price of $137.83 and a 200 day moving average price of $123.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.61 and a quick ratio of 1.32. Scotts Miracle-Gro Co has a 1-year low of $76.50 and a 1-year high of $167.46.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.37 by $0.43. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. Scotts Miracle-Gro’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.11 EPS. Sell-side analysts expect that Scotts Miracle-Gro Co will post 6.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.56%. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. Scotts Miracle-Gro’s dividend payout ratio is currently 51.90%.

In other Scotts Miracle-Gro news, Director Adam Hanft sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $138.00, for a total transaction of $414,000.00. Following the completion of the transaction, the director now owns 30,445 shares in the company, valued at approximately $4,201,410. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 101,171 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $131.08, for a total transaction of $13,261,494.68. Following the transaction, the insider now owns 15,020,316 shares of the company’s stock, valued at approximately $1,968,863,021.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,442 shares of company stock valued at $33,190,830. 28.20% of the stock is owned by company insiders.

Scotts Miracle-Gro Company 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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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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