M&T Bank Corp increased its holdings in Scotts Miracle-Gro Co (NYSE:SMG) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,117 shares of the basic materials company’s stock after acquiring an additional 724 shares during the period. M&T Bank Corp’s holdings in Scotts Miracle-Gro were worth $800,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Scotts Miracle-Gro by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 583,142 shares of the basic materials company’s stock worth $35,839,000 after purchasing an additional 94,356 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Scotts Miracle-Gro by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 383,041 shares of the basic materials company’s stock valued at $23,541,000 after buying an additional 28,231 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Scotts Miracle-Gro during the first quarter valued at approximately $242,000. BNP Paribas Arbitrage SA grew its holdings in Scotts Miracle-Gro by 99.4% during the first quarter. BNP Paribas Arbitrage SA now owns 1,448 shares of the basic materials company’s stock worth $114,000 after buying an additional 722 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new stake in Scotts Miracle-Gro during the first quarter worth $141,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE SMG traded down $3.92 during midday trading on Wednesday, reaching $102.87. The company’s stock had a trading volume of 8,677 shares, compared to its average volume of 445,840. Scotts Miracle-Gro Co has a 12-month low of $57.96 and a 12-month high of $114.63. The firm has a 50 day moving average price of $107.62 and a 200-day moving average price of $93.33. The stock has a market capitalization of $5.93 billion, a P/E ratio of 28.41, a PEG ratio of 2.17 and a beta of 0.83. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.45 and a quick ratio of 0.90.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.37. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. Scotts Miracle-Gro had a return on equity of 51.15% and a net margin of 12.02%. Scotts Miracle-Gro’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the business posted $2.67 earnings per share. On average, equities analysts predict that Scotts Miracle-Gro Co will post 4.5 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Monday, August 26th. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.55. Scotts Miracle-Gro’s dividend payout ratio is 62.53%.
A number of equities research analysts recently commented on SMG shares. Bank of America set a $96.00 price objective on Scotts Miracle-Gro and gave the company a “sell” rating in a research note on Wednesday, July 31st. SunTrust Banks upped their target price on shares of Scotts Miracle-Gro to $120.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Finally, ValuEngine upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $87.42.
In other news, Director Nancy G. Mistretta sold 2,500 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.98, for a total transaction of $269,950.00. Following the completion of the transaction, the director now directly owns 18,454 shares of the company’s stock, valued at approximately $1,992,662.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Hagedorn sold 38,168 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $110.13, for a total transaction of $4,203,441.84. Following the transaction, the chief executive officer now directly owns 150,510 shares of the company’s stock, valued at $16,575,666.30. The disclosure for this sale can be found here. Insiders sold a total of 794,810 shares of company stock valued at $86,961,210 in the last 90 days. Corporate insiders own 30.37% of the company’s stock.
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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