Commerce Bank Grows Holdings in Scotts Miracle-Gro Company (The) (SMG)

Commerce Bank raised its position in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) by 11.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,733 shares of the basic materials company’s stock after purchasing an additional 1,525 shares during the period. Commerce Bank’s holdings in Scotts Miracle-Gro Company (The) were worth $1,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new stake in Scotts Miracle-Gro Company (The) during the third quarter valued at about $487,000. Cadence Capital Management LLC raised its position in Scotts Miracle-Gro Company (The) by 5.9% during the second quarter. Cadence Capital Management LLC now owns 5,511 shares of the basic materials company’s stock valued at $493,000 after purchasing an additional 308 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Scotts Miracle-Gro Company (The) by 1.0% during the second quarter. Vanguard Group Inc. now owns 3,882,566 shares of the basic materials company’s stock valued at $347,335,000 after buying an additional 39,851 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Scotts Miracle-Gro Company (The) by 44.5% during the second quarter. Eagle Asset Management Inc. now owns 327,304 shares of the basic materials company’s stock valued at $29,280,000 after buying an additional 100,743 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Scotts Miracle-Gro Company (The) by 1.1% during the second quarter. Arizona State Retirement System now owns 18,600 shares of the basic materials company’s stock valued at $1,664,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Shares of Scotts Miracle-Gro Company (NYSE:SMG) traded down $0.17 on Friday, reaching $97.78. 423,378 shares of the company’s stock traded hands, compared to its average volume of 320,940. The company has a quick ratio of 0.87, a current ratio of 1.62 and a debt-to-equity ratio of 1.90. Scotts Miracle-Gro Company has a twelve month low of $81.48 and a twelve month high of $102.50. The stock has a market capitalization of $5,711.43, a price-to-earnings ratio of 23.34, a PEG ratio of 2.31 and a beta of 0.37.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its quarterly earnings data on Tuesday, November 7th. The basic materials company reported ($0.26) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.04. Scotts Miracle-Gro Company (The) had a net margin of 7.51% and a return on equity of 37.81%. The business had revenue of $376.70 million during the quarter, compared to analyst estimates of $368.50 million. During the same period last year, the business posted ($0.30) earnings per share. Scotts Miracle-Gro Company (The)’s quarterly revenue was up 8.0% compared to the same quarter last year. analysts anticipate that Scotts Miracle-Gro Company will post 4.3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be issued a $0.53 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $2.12 annualized dividend and a yield of 2.17%. Scotts Miracle-Gro Company (The)’s dividend payout ratio (DPR) is presently 58.89%.

A number of research analysts have recently issued reports on the company. Zacks Investment Research cut Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Bank of America Corporation raised their price objective on Scotts Miracle-Gro Company (The) from $107.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. SunTrust Banks, Inc. reissued a “hold” rating and issued a $95.00 target price on shares of Scotts Miracle-Gro Company (The) in a research note on Friday, November 10th. BidaskClub cut Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, KeyCorp reissued a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research note on Monday, August 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $101.33.

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In other news, major shareholder Paul Hagedorn sold 16,000 shares of Scotts Miracle-Gro Company (The) stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $94.30, for a total transaction of $1,508,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Randal Coleman sold 1,226 shares of Scotts Miracle-Gro Company (The) stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $99.67, for a total transaction of $122,195.42. The disclosure for this sale can be found here. Insiders sold 70,226 shares of company stock valued at $6,661,305 over the last 90 days. 28.16% of the stock is currently owned by company insiders.

About Scotts Miracle-Gro Company (The)

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.

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

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