Commerce Bank grew its stake in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,733 shares of the basic materials company’s stock after purchasing an additional 1,525 shares during the quarter. Commerce Bank’s holdings in Scotts Miracle-Gro were worth $1,434,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of SMG. TimesSquare Capital Management LLC purchased a new position in shares of Scotts Miracle-Gro in the second quarter worth about $61,566,000. FIL Ltd raised its stake in Scotts Miracle-Gro by 39.2% during the second quarter. FIL Ltd now owns 664,781 shares of the basic materials company’s stock worth $59,472,000 after purchasing an additional 187,264 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Scotts Miracle-Gro by 17.7% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,046,557 shares of the basic materials company’s stock valued at $101,873,000 after acquiring an additional 157,174 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Scotts Miracle-Gro during the second quarter valued at about $13,178,000. Finally, Eagle Asset Management Inc. increased its position in shares of Scotts Miracle-Gro 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 acquiring an additional 100,743 shares during the last quarter. 69.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Scotts Miracle-Gro Company (SMG) traded up $1.42 during trading hours on Monday, hitting $100.67. 524,175 shares of the stock traded hands, compared to its average volume of 421,323. 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 cap of $5,790.00, a P/E ratio of 23.69, a PEG ratio of 2.35 and a beta of 0.36. 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 (NYSE:SMG) last released its quarterly earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. Scotts Miracle-Gro had a net margin of 7.51% and a return on equity of 37.81%. The firm had revenue of $376.70 million during the quarter, compared to the consensus estimate of $368.50 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. Scotts Miracle-Gro’s revenue for the quarter was up 8.0% on a year-over-year basis. equities research analysts expect that Scotts Miracle-Gro Company will post 4.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a $0.53 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $2.12 annualized dividend and a yield of 2.11%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 65.23%.
In other Scotts Miracle-Gro news, CFO Thomas Randal Coleman sold 1,226 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $99.67, for a total transaction of $122,195.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Paul Hagedorn sold 16,000 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $94.30, for a total transaction of $1,508,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,813 shares of company stock valued at $2,775,359. 28.16% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro in a research report on Saturday, November 25th. SunTrust Banks restated a “hold” rating and issued a $95.00 price objective on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Bank of America lifted their price objective on shares of Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. J P Morgan Chase & Co cut shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price target for the company. in a report on Wednesday, November 8th. Finally, Zacks Investment Research cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $101.33.
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Scotts Miracle-Gro 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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