Chicago Equity Partners LLC purchased a new stake in shares of Scotts Miracle-Gro (NYSE:SMG) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 11,840 shares of the basic materials company’s stock, valued at approximately $1,015,000.
A number of other large investors have also recently modified their holdings of the stock. Condor Capital Management grew its stake in Scotts Miracle-Gro by 191.5% in the 1st quarter. Condor Capital Management now owns 19,338 shares of the basic materials company’s stock worth $1,658,000 after acquiring an additional 12,704 shares in the last quarter. D.A. Davidson & CO. grew its stake in Scotts Miracle-Gro by 42.5% in the 1st quarter. D.A. Davidson & CO. now owns 13,535 shares of the basic materials company’s stock worth $1,161,000 after acquiring an additional 4,040 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Scotts Miracle-Gro by 5.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 232,792 shares of the basic materials company’s stock worth $19,962,000 after acquiring an additional 12,909 shares in the last quarter. Bbva Compass Bancshares Inc. grew its stake in Scotts Miracle-Gro by 6.4% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 24,451 shares of the basic materials company’s stock worth $2,097,000 after acquiring an additional 1,467 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in Scotts Miracle-Gro in the 1st quarter worth about $489,000. Institutional investors own 67.07% of the company’s stock.
In other Scotts Miracle-Gro news, Director Brian D. Finn purchased 7,500 shares of the stock in a transaction dated Friday, May 4th. The stock was purchased at an average price of $79.95 per share, with a total value of $599,625.00. Following the transaction, the director now owns 21,874 shares of the company’s stock, valued at $1,748,826.30. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael C. Lukemire sold 8,594 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $81.64, for a total transaction of $701,614.16. Following the completion of the sale, the insider now directly owns 35,638 shares of the company’s stock, valued at approximately $2,909,486.32. The disclosure for this sale can be found here. Insiders sold a total of 64,138 shares of company stock valued at $5,196,797 in the last ninety days. Corporate insiders own 29.14% of the company’s stock.
Shares of SMG opened at $86.17 on Friday. Scotts Miracle-Gro has a fifty-two week low of $76.60 and a fifty-two week high of $110.12. The company has a market capitalization of $4.75 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.04 and a beta of 0.27. The company has a debt-to-equity ratio of 3.91, a current ratio of 1.81 and a quick ratio of 1.15.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Tuesday, May 1st. The basic materials company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.43). Scotts Miracle-Gro had a return on equity of 40.86% and a net margin of 9.15%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted $2.78 EPS. Scotts Miracle-Gro’s revenue for the quarter was down 6.6% on a year-over-year basis. equities analysts expect that Scotts Miracle-Gro will post 4.11 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 25th will be given a $0.53 dividend. The ex-dividend date is Thursday, May 24th. This represents a $2.12 annualized dividend and a dividend yield of 2.46%. Scotts Miracle-Gro’s payout ratio is presently 53.81%.
A number of brokerages have commented on SMG. ValuEngine upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, May 15th. They noted that the move was a valuation call. Bank of America downgraded shares of Scotts Miracle-Gro from a “buy” rating to an “underperform” rating and set a $110.00 target price on the stock. in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “sell” rating in a research note on Tuesday, April 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $101.75.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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