Stone Ridge Asset Management LLC acquired a new position in Scotts Miracle-Gro Co (NYSE:SMG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,673 shares of the basic materials company’s stock, valued at approximately $928,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Scotts Miracle-Gro by 37.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,492 shares of the basic materials company’s stock worth $267,000 after buying an additional 677 shares during the period. Advisor Group Inc. lifted its holdings in Scotts Miracle-Gro by 17.1% in the third quarter. Advisor Group Inc. now owns 4,961 shares of the basic materials company’s stock worth $482,000 after buying an additional 726 shares during the period. Hosking Partners LLP lifted its holdings in Scotts Miracle-Gro by 0.5% in the third quarter. Hosking Partners LLP now owns 156,591 shares of the basic materials company’s stock worth $15,243,000 after buying an additional 746 shares during the period. Commonwealth Equity Services Inc lifted its holdings in Scotts Miracle-Gro by 6.6% in the third quarter. Commonwealth Equity Services Inc now owns 14,846 shares of the basic materials company’s stock worth $1,445,000 after buying an additional 921 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management lifted its holdings in Scotts Miracle-Gro by 2.5% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 41,153 shares of the basic materials company’s stock worth $4,402,000 after buying an additional 1,021 shares during the period. Institutional investors and hedge funds own 66.63% of the company’s stock.
In other news, Director Katherine Littlefield Hagedorn sold 2,892 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $89.50, for a total transaction of $258,834.00. Following the completion of the transaction, the director now directly owns 9,043 shares in the company, valued at $809,348.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 29.14% of the stock is currently owned by company insiders.
Several brokerages have commented on SMG. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $121.00 price objective for the company in a report on Wednesday, January 10th. KeyCorp restated a “hold” rating on shares of Scotts Miracle-Gro in a report on Saturday, November 25th. Finally, Bank of America set a $120.00 price objective on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Scotts Miracle-Gro has an average rating of “Hold” and a consensus target price of $104.25.
Scotts Miracle-Gro stock opened at $88.91 on Monday. Scotts Miracle-Gro Co has a 1-year low of $81.48 and a 1-year high of $110.12. The stock has a market cap of $5,061.15, a P/E ratio of 21.84, a PEG ratio of 1.70 and a beta of 0.21. The company has a current ratio of 2.09, a quick ratio of 0.61 and a debt-to-equity ratio of 3.34.
Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Tuesday, January 30th. The basic materials company reported ($1.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.92) by ($0.16). Scotts Miracle-Gro had a net margin of 9.11% and a return on equity of 38.33%. The business had revenue of $221.50 million for the quarter, compared to analysts’ expectations of $237.21 million. During the same quarter in the previous year, the business posted ($0.96) earnings per share. Scotts Miracle-Gro’s revenue for the quarter was down 10.3% on a year-over-year basis. sell-side analysts predict that Scotts Miracle-Gro Co will post 4.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.12 annualized dividend and a dividend yield of 2.38%. Scotts Miracle-Gro’s payout ratio is 49.07%.
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Scotts Miracle-Gro Company 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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