New York State Common Retirement Fund raised its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,954 shares of the basic materials company’s stock after acquiring an additional 3,700 shares during the quarter. New York State Common Retirement Fund owned approximately 0.58% of Scotts Miracle-Gro worth $32,799,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in SMG. Almanack Investment Partners LLC. acquired a new position in shares of Scotts Miracle-Gro during the second quarter valued at approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Scotts Miracle-Gro by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 116 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Scotts Miracle-Gro by 9.0% during the second quarter. Private Advisor Group LLC now owns 2,620 shares of the basic materials company’s stock valued at $239,000 after acquiring an additional 216 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Scotts Miracle-Gro during the second quarter valued at approximately $247,000. Finally, Jensen Investment Management Inc. acquired a new position in shares of Scotts Miracle-Gro during the third quarter valued at approximately $258,000. 69.11% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on SMG. J P Morgan Chase & Co cut 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. KeyCorp reaffirmed a “hold” rating on shares of Scotts Miracle-Gro in a report on Monday, October 16th. Bank of America increased their price target on Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks reaffirmed a “hold” rating and issued a $95.00 price target on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Finally, Zacks Investment Research cut 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 given a hold rating and one has issued a buy rating to the company. Scotts Miracle-Gro presently has an average rating of “Hold” and an average target price of $101.33.
In related news, Director Nancy G. Mistretta sold 5,000 shares of the stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $100.11, for a total value of $500,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Randal Coleman sold 1,226 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $99.67, for a total value of $122,195.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,813 shares of company stock valued at $1,266,559. Insiders own 28.16% of the company’s stock.
Scotts Miracle-Gro Co (NYSE SMG) traded up $0.07 during trading hours on Friday, hitting $101.48. The company had a trading volume of 443,442 shares, compared to its average volume of 323,754. Scotts Miracle-Gro Co has a 12-month low of $81.48 and a 12-month high of $102.50. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.87 and a current ratio of 1.62. The firm has a market capitalization of $5,838.14, a PE ratio of 24.22, a PEG ratio of 2.40 and a beta of 0.36.
Scotts Miracle-Gro (NYSE:SMG) last posted 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 return on equity of 37.81% and a net margin of 7.51%. The firm had revenue of $376.70 million during the quarter, compared to analysts’ expectations of $368.50 million. During the same quarter last year, the firm earned ($0.30) earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. sell-side analysts forecast that Scotts Miracle-Gro Co will post 4.3 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were issued a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $2.12 annualized dividend and a dividend yield of 2.09%. Scotts Miracle-Gro’s dividend payout ratio is presently 58.89%.
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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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