Quantinno Capital Management LP acquired a new position in shares of Scotts Miracle-Gro Co (NYSE:SMG) in the first quarter, HoldingsChannel reports. The institutional investor acquired 10,879 shares of the basic materials company’s stock, valued at approximately $855,000. Scotts Miracle-Gro accounts for approximately 0.5% of Quantinno Capital Management LP’s holdings, making the stock its 11th biggest holding.
Other hedge funds also recently added to or reduced their stakes in the company. Enlightenment Research LLC acquired a new position in Scotts Miracle-Gro during the 4th quarter worth approximately $25,000. Toronto Dominion Bank bought a new stake in Scotts Miracle-Gro during the 4th quarter worth approximately $27,000. Shine Investment Advisory Services Inc. grew its holdings in Scotts Miracle-Gro by 106.5% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 510 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 263 shares during the last quarter. Bedel Financial Consulting Inc. grew its holdings in Scotts Miracle-Gro by 58.5% during the 1st quarter. Bedel Financial Consulting Inc. now owns 515 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 190 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its holdings in Scotts Miracle-Gro by 35.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 618 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 66.13% of the company’s stock.
SMG traded up $1.70 during trading on Friday, reaching $96.56. 397,245 shares of the company’s stock were exchanged, compared to its average volume of 371,811. Scotts Miracle-Gro Co has a one year low of $57.96 and a one year high of $96.70. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.59 and a quick ratio of 1.00. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 2.07 and a beta of 0.82.
Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $3.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.42 by $0.22. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm posted $2.88 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities research analysts predict that Scotts Miracle-Gro Co will post 4.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, May 24th. Scotts Miracle-Gro’s dividend payout ratio is currently 59.30%.
A number of equities research analysts have weighed in on the stock. TheStreet raised shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a report on Wednesday, May 1st. Bank of America lowered shares of Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $81.00 to $83.00 in a report on Thursday, May 2nd. ValuEngine raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Raymond James lowered shares of Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 target price on the stock. in a report on Wednesday, March 27th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $76.03.
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About Scotts Miracle-Gro
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
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