M&T Bank Corp Trims Stake in Scotts Miracle-Gro Co (SMG)

M&T Bank Corp cut its holdings in Scotts Miracle-Gro Co (NYSE:SMG) by 46.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,372 shares of the basic materials company’s stock after selling 8,111 shares during the period. M&T Bank Corp’s holdings in Scotts Miracle-Gro were worth $1,004,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in shares of Scotts Miracle-Gro by 2,291.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,148 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,100 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth about $172,000. Charter Trust Co. bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth about $203,000. Narwhal Capital Management bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth about $214,000. Finally, First Allied Advisory Services Inc. bought a new stake in shares of Scotts Miracle-Gro in the 3rd quarter worth about $226,000. Hedge funds and other institutional investors own 64.87% of the company’s stock.

Scotts Miracle-Gro Co (NYSE:SMG) opened at $91.55 on Tuesday. The company has a market cap of $5,210.00, a PE ratio of 23.00, a P/E/G ratio of 1.98 and a beta of 0.20. Scotts Miracle-Gro Co has a fifty-two week low of $81.48 and a fifty-two week high of $110.12. 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 issued its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.16). The firm had revenue of $221.50 million for the quarter, compared to the consensus estimate of $237.21 million. Scotts Miracle-Gro had a net margin of 9.11% and a return on equity of 38.33%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.96) earnings per share. equities analysts predict that Scotts Miracle-Gro Co will post 4.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 22nd. This represents a $2.12 annualized dividend and a yield of 2.32%. Scotts Miracle-Gro’s payout ratio is 53.27%.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $121.00 target price on the stock 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. Bank of America set a $120.00 target price on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a report on Tuesday, January 30th. SunTrust Banks reiterated a “hold” rating and set a $95.00 price target on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. downgraded shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price target on the stock. in a report on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $104.25.

In related news, Director Katherine Littlefield Hagedorn sold 2,892 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $89.50, for a total transaction of $258,834.00. Following the transaction, the director now directly owns 9,043 shares in the company, valued at approximately $809,348.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 29.14% of the company’s stock.

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Scotts Miracle-Gro 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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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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