GSA Capital Partners LLP purchased a new position in shares of Scotts Miracle-Gro Co (NYSE:SMG) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,162 shares of the basic materials company’s stock, valued at approximately $357,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mackay Shields LLC acquired a new stake in shares of Scotts Miracle-Gro during the 1st quarter worth approximately $210,000. South State Corp acquired a new stake in Scotts Miracle-Gro in the first quarter valued at approximately $212,000. ETRADE Capital Management LLC acquired a new stake in Scotts Miracle-Gro in the first quarter valued at approximately $225,000. Wellington Shields Capital Management LLC boosted its position in Scotts Miracle-Gro by 38.5% in the first quarter. Wellington Shields Capital Management LLC now owns 3,600 shares of the basic materials company’s stock valued at $309,000 after buying an additional 1,000 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Scotts Miracle-Gro in the first quarter valued at approximately $315,000. Institutional investors and hedge funds own 65.98% of the company’s stock.
A number of analysts have weighed in on SMG shares. SunTrust Banks cut their target price on shares of Scotts Miracle-Gro to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 18th. Raymond James lowered shares of Scotts Miracle-Gro from a “market perform” rating to an “underperform” rating in a research report on Wednesday, June 20th. Bank of America restated a “sell” rating and issued a $80.00 target price on shares of Scotts Miracle-Gro in a research report on Wednesday, June 13th. Zacks Investment Research lowered shares of Scotts Miracle-Gro from a “buy” rating to a “sell” rating in a research report on Tuesday, April 17th. Finally, ValuEngine lowered shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $90.75.
Shares of Scotts Miracle-Gro opened at $81.34 on Wednesday, MarketBeat Ratings reports. Scotts Miracle-Gro Co has a fifty-two week low of $76.60 and a fifty-two week high of $110.12. The company has a current ratio of 1.81, a quick ratio of 1.15 and a debt-to-equity ratio of 3.91. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 2.46 and a beta of 0.27.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Tuesday, May 1st. The basic materials company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.43). The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.08 billion. Scotts Miracle-Gro had a return on equity of 40.86% and a net margin of 9.15%. Scotts Miracle-Gro’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.78 EPS. equities analysts anticipate that Scotts Miracle-Gro Co will post 3.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.61%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 53.81%.
In other news, CEO James Hagedorn sold 86,686 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $83.69, for a total transaction of $7,254,751.34. Following the transaction, the chief executive officer now owns 145,852 shares in the company, valued at $12,206,353.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 36,667 shares of Scotts Miracle-Gro stock in a transaction on Friday, May 4th. The stock was sold at an average price of $80.75, for a total transaction of $2,960,860.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,374 shares of company stock worth $15,166,110. 29.14% of the stock is owned by company insiders.
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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