First Mercantile Trust Co. reduced its stake in shares of Scotts Miracle-Gro Co. (NYSE:SMG) by 14.6% during the second quarter, Holdings Channel reports. The fund owned 4,085 shares of the company’s stock after selling 700 shares during the period. First Mercantile Trust Co.’s holdings in Scotts Miracle-Gro were worth $286,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Aperio Group LLC boosted its stake in Scotts Miracle-Gro by 12.7% in the first quarter. Aperio Group LLC now owns 16,155 shares of the company’s stock valued at $1,176,000 after buying an additional 1,819 shares during the last quarter. Ngam Advisors L.P. bought a new stake in shares of Scotts Miracle-Gro during the first quarter worth about $2,831,000. TIAA CREF Investment Management LLC boosted its stake in shares of Scotts Miracle-Gro by 3.2% in the first quarter. TIAA CREF Investment Management LLC now owns 279,012 shares of the company’s stock worth $20,304,000 after buying an additional 8,603 shares in the last quarter. Teachers Advisors Inc. boosted its stake in shares of Scotts Miracle-Gro by 0.4% in the first quarter. Teachers Advisors Inc. now owns 207,141 shares of the company’s stock worth $15,074,000 after buying an additional 887 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Scotts Miracle-Gro during the first quarter worth about $306,000. Hedge funds and other institutional investors own 69.91% of the company’s stock.
Shares of Scotts Miracle-Gro Co. (NYSE:SMG) opened at 83.27 on Monday. Scotts Miracle-Gro Co. has a 1-year low of $62.20 and a 1-year high of $83.73. The company has a market cap of $5.05 billion, a PE ratio of 16.28 and a beta of 0.70. The company has a 50-day moving average price of $81.80 and a 200-day moving average price of $74.07.
Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.04. The business earned $994.10 million during the quarter, compared to the consensus estimate of $1.05 billion. Scotts Miracle-Gro had a return on equity of 36.35% and a net margin of 10.72%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.68 earnings per share. Equities research analysts expect that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were issued a $0.50 dividend. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.47. This represents a $2.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, August 24th. Scotts Miracle-Gro’s payout ratio is presently 39.06%.
A number of equities research analysts have recently issued reports on SMG shares. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Saturday, August 6th. JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $85.00 in a research note on Thursday, August 4th. Finally, Tigress Financial reiterated a “buy” rating on shares of Scotts Miracle-Gro in a research note on Monday, August 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Scotts Miracle-Gro currently has a consensus rating of “Buy” and a consensus target price of $83.33.
In other Scotts Miracle-Gro news, insider Michael C. Lukemire sold 38,924 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $79.65, for a total value of $3,100,296.60. Following the completion of the sale, the insider now owns 34,256 shares of the company’s stock, valued at $2,728,490.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Denise Stump sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $81.72, for a total value of $367,740.00. Following the completion of the sale, the executive vice president now directly owns 14,182 shares of the company’s stock, valued at approximately $1,158,953.04. The disclosure for this sale can be found here. 27.28% of the stock is owned by company insiders.
About Scotts Miracle-Gro
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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