TD Asset Management Inc. trimmed its stake in Scotts Miracle-Gro Co (NYSE:SMG) by 87.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,806 shares of the basic materials company’s stock after selling 132,786 shares during the period. TD Asset Management Inc.’s holdings in Scotts Miracle-Gro were worth $1,830,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SMG. Assenagon Asset Management S.A. acquired a new position in Scotts Miracle-Gro during the 3rd quarter valued at about $487,000. Cadence Capital Management LLC increased its position in Scotts Miracle-Gro by 5.9% during the 2nd quarter. Cadence Capital Management LLC now owns 5,511 shares of the basic materials company’s stock valued at $493,000 after buying an additional 308 shares in the last quarter. Vanguard Group Inc. increased its position in Scotts Miracle-Gro by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,882,566 shares of the basic materials company’s stock valued at $347,335,000 after buying an additional 39,851 shares in the last quarter. Eagle Asset Management Inc. increased its position in Scotts Miracle-Gro by 44.5% during the 2nd quarter. Eagle Asset Management Inc. now owns 327,304 shares of the basic materials company’s stock valued at $29,280,000 after buying an additional 100,743 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Scotts Miracle-Gro by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 18,600 shares of the basic materials company’s stock valued at $1,664,000 after buying an additional 200 shares in the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Thomas Randal Coleman sold 1,226 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $99.67, for a total value of $122,195.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ivan C. Smith sold 6,587 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $97.74, for a total value of $643,813.38. The disclosure for this sale can be found here. Insiders sold 12,813 shares of company stock worth $1,266,559 over the last three months. Corporate insiders own 28.16% of the company’s stock.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. The business had revenue of $376.70 million for the quarter, compared to analyst estimates of $368.50 million. Scotts Miracle-Gro had a return on equity of 37.81% and a net margin of 7.51%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.30) earnings per share. equities analysts expect that Scotts Miracle-Gro Co will post 4.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 24th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Wednesday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is presently 58.89%.
Several brokerages recently issued reports on SMG. KeyCorp reaffirmed a “hold” rating on shares of Scotts Miracle-Gro in a research report on Saturday, November 25th. Zacks Investment Research lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Bank of America upped their target price on Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. SunTrust Banks reaffirmed 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, J P Morgan Chase & Co lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price objective on the stock. in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $101.33.
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Scotts Miracle-Gro Company 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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