Neuberger Berman Group LLC grew its holdings in Scotts Miracle-Gro (NYSE:SMG) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 853,502 shares of the basic materials company’s stock after buying an additional 37,655 shares during the quarter. Neuberger Berman Group LLC owned 1.50% of Scotts Miracle-Gro worth $73,202,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in SMG. Steward Partners Investment Advisory LLC raised its stake 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 valued at $122,000 after buying an additional 1,100 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at $172,000. Carnick & Kubik Group LLC bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth about $209,000. Mackay Shields LLC bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter worth about $210,000. Finally, Narwhal Capital Management bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth about $214,000. Institutional investors own 67.07% of the company’s stock.
In other Scotts Miracle-Gro news, insider Michael C. Lukemire sold 8,594 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $81.64, for a total transaction of $701,614.16. Following the sale, the insider now owns 35,638 shares of the company’s stock, valued at approximately $2,909,486.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian D. Finn acquired 7,500 shares of the firm’s stock in a transaction on Friday, May 4th. The shares were bought at an average cost of $79.95 per share, for a total transaction of $599,625.00. Following the acquisition, the director now owns 21,874 shares in the company, valued at $1,748,826.30. The disclosure for this purchase can be found here. In the last three months, insiders have sold 64,138 shares of company stock worth $5,196,797. Insiders own 29.14% of the company’s stock.
Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Tuesday, May 1st. The basic materials company reported $2.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.31 by ($0.43). Scotts Miracle-Gro had a return on equity of 40.86% and a net margin of 9.15%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted $2.78 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. analysts expect that Scotts Miracle-Gro will post 4.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Friday, May 25th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, May 24th. Scotts Miracle-Gro’s dividend payout ratio is currently 53.81%.
Several research firms have recently weighed in on SMG. ValuEngine raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Wednesday. SunTrust Banks raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, May 15th. They noted that the move was a valuation call. Bank of America lowered shares of Scotts Miracle-Gro from a “buy” rating to an “underperform” rating and set a $110.00 target price on the stock. in a report on Wednesday, May 2nd. Finally, Zacks Investment Research lowered shares of Scotts Miracle-Gro from a “buy” rating to a “sell” rating in a report on Tuesday, April 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Scotts Miracle-Gro has a consensus rating of “Hold” and an average price target of $101.75.
About Scotts Miracle-Gro
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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