Calamos Advisors LLC raised its position in Scotts Miracle-Gro Co. (NYSE:SMG) by 20.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 413,443 shares of the company’s stock after buying an additional 69,687 shares during the period. Calamos Advisors LLC’s holdings in Scotts Miracle-Gro were worth $28,904,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Scotts Miracle-Gro during the first quarter worth about $132,000. LS Investment Advisors LLC increased its position in shares of Scotts Miracle-Gro by 71.7% in the second quarter. LS Investment Advisors LLC now owns 2,726 shares of the company’s stock worth $191,000 after buying an additional 1,138 shares in the last quarter. Parametrica Management Ltd acquired a new position in shares of Scotts Miracle-Gro during the first quarter worth about $204,000. Independent Portfolio Consultants Inc. increased its position in shares of Scotts Miracle-Gro by 39.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,325 shares of the company’s stock worth $232,000 after buying an additional 945 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of Scotts Miracle-Gro during the first quarter worth about $236,000. Institutional investors own 69.91% of the company’s stock.
Shares of Scotts Miracle-Gro Co. (NYSE:SMG) traded up 0.72% during trading on Wednesday, hitting $83.62. The company’s stock had a trading volume of 232,298 shares. The stock has a market cap of $5.07 billion, a PE ratio of 16.35 and a beta of 0.74. The company has a 50-day moving average price of $81.76 and a 200-day moving average price of $73.94. Scotts Miracle-Gro Co. has a one year low of $60.25 and a one year high of $83.67.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.12 by $0.04. The firm had revenue of $994.10 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $2.68 EPS. Equities analysts predict that Scotts Miracle-Gro Co. will post $3.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, August 24th. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.47. Scotts Miracle-Gro’s payout ratio is 39.06%.
A number of brokerages have issued reports on SMG. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Tigress Financial reiterated a “buy” rating on shares of Scotts Miracle-Gro in a research report on Monday, August 29th. Finally, JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $85.00 in a research report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Scotts Miracle-Gro has an average rating of “Buy” and a consensus target price of $83.33.
In related news, Director Thomas N. Kelly, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $82.20, for a total value of $411,000.00. Following the transaction, the director now owns 14,273 shares in the company, valued at approximately $1,173,240.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael C. Lukemire sold 38,924 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $79.65, for a total value of $3,100,296.60. Following the completion of the transaction, the insider now owns 34,256 shares in the company, valued at approximately $2,728,490.40. The disclosure for this sale can be found here. 27.28% of the stock is owned by corporate insiders.
Scotts Miracle-Gro Company Profile
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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