Great West Life Assurance Co. Can reduced its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,653 shares of the basic materials company’s stock after selling 2,141 shares during the quarter. Great West Life Assurance Co. Can owned about 0.06% of Scotts Miracle-Gro worth $3,178,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. LMR Partners LLP purchased a new position in Scotts Miracle-Gro during the 3rd quarter worth $883,000. TimesSquare Capital Management LLC increased its holdings in Scotts Miracle-Gro by 42.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 980,450 shares of the basic materials company’s stock worth $95,437,000 after purchasing an additional 292,250 shares during the period. Macquarie Group Ltd. increased its holdings in Scotts Miracle-Gro by 9.0% during the 3rd quarter. Macquarie Group Ltd. now owns 440,608 shares of the basic materials company’s stock worth $42,889,000 after purchasing an additional 36,211 shares during the period. Commonwealth Equity Services Inc increased its holdings in Scotts Miracle-Gro by 6.6% during the 3rd quarter. Commonwealth Equity Services Inc now owns 14,846 shares of the basic materials company’s stock worth $1,445,000 after purchasing an additional 921 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Scotts Miracle-Gro by 12.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 24,393 shares of the basic materials company’s stock worth $2,374,000 after purchasing an additional 2,690 shares during the period. Institutional investors own 69.11% of the company’s stock.
Shares of Scotts Miracle-Gro Co (NYSE:SMG) traded up $1.18 during midday trading on Tuesday, reaching $102.66. The company’s stock had a trading volume of 268,600 shares, compared to its average volume of 420,287. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.62 and a quick ratio of 0.87. The company has a market cap of $5,838.16, a PE ratio of 24.22, a PEG ratio of 2.40 and a beta of 0.36. Scotts Miracle-Gro Co has a 1-year low of $81.48 and a 1-year high of $102.78.
Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. The business had revenue of $376.70 million for the quarter, compared to analysts’ expectations of $368.50 million. Scotts Miracle-Gro had a return on equity of 37.81% and a net margin of 7.51%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) EPS. analysts forecast that Scotts Miracle-Gro Co will post 4.3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 24th were given a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.07%. Scotts Miracle-Gro’s payout ratio is 58.89%.
Several brokerages have issued reports on SMG. J P Morgan Chase & Co cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 target price on the stock. in a research report on Wednesday, November 8th. Bank of America increased their target price on Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. KeyCorp reaffirmed a “hold” rating on shares of Scotts Miracle-Gro in a research report on Monday, October 16th. Zacks Investment Research cut Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $95.00 target price on shares of Scotts Miracle-Gro in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $101.33.
In other news, Director Nancy G. Mistretta sold 5,000 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $100.11, for a total value of $500,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ivan C. Smith sold 6,587 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $97.74, for a total value of $643,813.38. The disclosure for this sale can be found here. Insiders sold a total of 12,813 shares of company stock valued at $1,266,559 in the last three months. Insiders own 28.16% of the company’s stock.
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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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