ARP Americas LP acquired a new position in Scotts Miracle-Gro Co (NYSE:SMG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,813 shares of the basic materials company’s stock, valued at approximately $378,000.
A number of other large investors have also modified their holdings of SMG. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Scotts Miracle-Gro by 1.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,797 shares of the basic materials company’s stock worth $1,326,000 after purchasing an additional 206 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Scotts Miracle-Gro by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 65,929 shares of the basic materials company’s stock worth $7,000,000 after purchasing an additional 400 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Scotts Miracle-Gro by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 425,298 shares of the basic materials company’s stock worth $45,158,000 after purchasing an additional 19,329 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Scotts Miracle-Gro in the fourth quarter worth $2,654,000. Finally, Norges Bank bought a new stake in Scotts Miracle-Gro during the fourth quarter valued at about $41,043,000. Hedge funds and other institutional investors own 63.07% of the company’s stock.
In related news, Director Katherine Littlefield Hagedorn sold 289 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $130.24, for a total value of $37,639.36. Following the completion of the transaction, the director now owns 5,980 shares of the company’s stock, valued at $778,835.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ivan C. Smith sold 2,972 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $164.40, for a total transaction of $488,596.80. Following the completion of the transaction, the executive vice president now directly owns 10,674 shares of the company’s stock, valued at approximately $1,754,805.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,442 shares of company stock valued at $33,190,830. 28.20% of the stock is owned by corporate insiders.
Shares of NYSE SMG traded up $1.32 during mid-day trading on Friday, hitting $158.57. The company had a trading volume of 413,208 shares, compared to its average volume of 319,053. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.61 and a quick ratio of 1.32. The business’s 50-day simple moving average is $137.83 and its 200-day simple moving average is $123.79. Scotts Miracle-Gro Co has a 12 month low of $76.50 and a 12 month high of $167.46. The firm has a market cap of $8.80 billion, a P/E ratio of 25.29 and a beta of 0.93.
Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.37 by $0.43. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the company earned $3.11 earnings per share. The firm’s revenue was up 27.5% on a year-over-year basis. As a group, sell-side analysts predict that Scotts Miracle-Gro Co will post 5.75 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Wednesday, August 26th. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 51.90%.
A number of equities research analysts have issued reports on SMG shares. William Blair restated a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. Raymond James cut shares of Scotts Miracle-Gro from a “strong-buy” rating to a “market perform” rating and set a $152.00 price target for the company. in a report on Tuesday, May 26th. TheStreet upgraded shares of Scotts Miracle-Gro from a “c+” rating to a “b” rating in a report on Wednesday, May 6th. Finally, SunTrust Banks upped their price target on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $128.50.
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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