Cambiar Investors LLC increased its stake in Scotts Miracle-Gro Co. (NYSE:SMG) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,682 shares of the company’s stock after buying an additional 1,464 shares during the period. Cambiar Investors LLC’s holdings in Scotts Miracle-Gro were worth $3,613,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. American Century Companies Inc. increased its position in Scotts Miracle-Gro by 77.6% in the second quarter. American Century Companies Inc. now owns 591,762 shares of the company’s stock worth $41,370,000 after buying an additional 258,645 shares during the last quarter. Nicholas Investment Partners LP acquired a new position in Scotts Miracle-Gro during the first quarter worth approximately $6,455,000. Credit Agricole S A increased its position in Scotts Miracle-Gro by 650.5% in the first quarter. Credit Agricole S A now owns 95,400 shares of the company’s stock worth $6,942,000 after buying an additional 82,688 shares during the last quarter. BB&T Securities LLC increased its position in Scotts Miracle-Gro by 15.8% in the first quarter. BB&T Securities LLC now owns 557,952 shares of the company’s stock worth $40,602,000 after buying an additional 76,294 shares during the last quarter. Finally, Calamos Advisors LLC increased its position in Scotts Miracle-Gro by 20.3% in the second quarter. Calamos Advisors LLC now owns 413,443 shares of the company’s stock worth $28,904,000 after buying an additional 69,687 shares during the last quarter. Institutional investors own 69.91% of the company’s stock.
Shares of Scotts Miracle-Gro Co. (NYSE:SMG) traded down 0.06% during mid-day trading on Tuesday, hitting $83.03. The company had a trading volume of 351,414 shares. The stock’s 50-day moving average is $81.82 and its 200-day moving average is $74.24. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 16.24 and a beta of 0.70. Scotts Miracle-Gro Co. has a 52-week low of $62.20 and a 52-week high of $83.73.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.04. The company 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.68 earnings per share. Equities analysts forecast that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 26th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.41%. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.47. The ex-dividend date was Wednesday, August 24th. Scotts Miracle-Gro’s payout ratio is presently 39.06%.
SMG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Thursday, June 9th. JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $85.00 in a report on Thursday, August 4th. Finally, Tigress Financial reiterated a “buy” rating on shares of Scotts Miracle-Gro in a report on Monday, August 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $83.33.
In other news, insider Michael C. Lukemire sold 38,924 shares of Scotts Miracle-Gro stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $79.65, for a total transaction of $3,100,296.60. Following the sale, the insider now directly owns 34,256 shares of the company’s stock, valued at $2,728,490.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Randal Coleman sold 4,927 shares of Scotts Miracle-Gro stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $82.51, for a total value of $406,526.77. Following the sale, the chief financial officer now directly owns 4,323 shares in the company, valued at $356,690.73. The disclosure for this sale can be found here. Insiders own 27.28% of the company’s stock.
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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