Retirement Systems of Alabama reduced its stake in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,757 shares of the basic materials company’s stock after selling 4,073 shares during the quarter. Retirement Systems of Alabama owned 0.09% of Scotts Miracle-Gro worth $5,135,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of SMG. Almanack Investment Partners LLC. purchased a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at $132,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Scotts Miracle-Gro by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock valued at $149,000 after buying an additional 116 shares during the last quarter. Delta Asset Management LLC TN grew its position in Scotts Miracle-Gro by 3.8% during the 2nd quarter. Delta Asset Management LLC TN now owns 2,025 shares of the basic materials company’s stock worth $181,000 after purchasing an additional 75 shares during the last quarter. Creative Planning grew its position in Scotts Miracle-Gro by 44.5% during the 2nd quarter. Creative Planning now owns 2,097 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 646 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in Scotts Miracle-Gro by 9.0% during the 2nd quarter. Private Advisor Group LLC now owns 2,620 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.
Scotts Miracle-Gro Company (NYSE:SMG) traded up $0.99 during midday trading on Thursday, hitting $101.41. 320,771 shares of the stock were exchanged, compared to its average volume of 420,831. Scotts Miracle-Gro Company has a twelve month low of $81.48 and a twelve month high of $102.50. The company has a current ratio of 1.62, a quick ratio of 0.87 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $5,830.00, a PE ratio of 24.17, a P/E/G ratio of 2.40 and a beta of 0.36.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly 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 firm had revenue of $376.70 million for the quarter, compared to analysts’ expectations of $368.50 million. Scotts Miracle-Gro had a net margin of 7.51% and a return on equity of 37.81%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.30) earnings per share. equities analysts forecast that Scotts Miracle-Gro Company will post 4.3 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.09%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 65.23%.
Several brokerages have recently weighed in on SMG. J P Morgan Chase & Co downgraded shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 target price on the stock. in a report on Wednesday, November 8th. KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro in a research note on Monday, October 16th. Bank of America lifted their target price on shares of Scotts Miracle-Gro from $107.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. SunTrust Banks restated a “hold” rating and set a $95.00 target price on shares of Scotts Miracle-Gro in a research report on Friday, November 10th. Finally, Zacks Investment Research downgraded shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $101.33.
In other Scotts Miracle-Gro news, EVP Ivan C. Smith sold 6,587 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $97.74, for a total transaction of $643,813.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Paul Hagedorn sold 16,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $94.30, for a total transaction of $1,508,800.00. The disclosure for this sale can be found here. Insiders have sold 28,813 shares of company stock worth $2,775,359 over the last three months. 28.16% of the stock is owned by corporate insiders.
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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