Bahl & Gaynor Inc. Sells 330 Shares of Scotts Miracle-Gro Company (The) (SMG)

Bahl & Gaynor Inc. reduced its holdings in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,975 shares of the basic materials company’s stock after selling 330 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Scotts Miracle-Gro Company (The) were worth $1,431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in Scotts Miracle-Gro Company (The) in the 1st quarter valued at approximately $103,000. Glen Harbor Capital Management LLC increased its position in Scotts Miracle-Gro Company (The) by 2.4% in the 1st quarter. Glen Harbor Capital Management LLC now owns 1,392 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 32 shares during the period. Almanack Investment Partners LLC. acquired a new position in Scotts Miracle-Gro Company (The) in the 2nd quarter valued at approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Scotts Miracle-Gro Company (The) by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 116 shares during the period. Finally, Delta Asset Management LLC TN increased its position in Scotts Miracle-Gro Company (The) by 3.8% in the 2nd quarter. Delta Asset Management LLC TN now owns 2,025 shares of the basic materials company’s stock valued at $181,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 69.04% of the company’s stock.

In related news, EVP Denise Stump sold 22,615 shares of Scotts Miracle-Gro Company (The) stock in a transaction on Monday, July 24th. The shares were sold at an average price of $95.05, for a total value of $2,149,555.75. Following the transaction, the executive vice president now directly owns 19,444 shares of the company’s stock, valued at $1,848,152.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Paul Hagedorn sold 16,000 shares of Scotts Miracle-Gro Company (The) stock in a transaction on Friday, September 8th. The stock was sold at an average price of $94.30, for a total transaction of $1,508,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,859 shares of company stock worth $24,364,693. 28.16% of the stock is owned by insiders.

A number of research firms have recently commented on SMG. Zacks Investment Research raised shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. BidaskClub raised shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research note on Monday, August 28th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $101.00.

Shares of Scotts Miracle-Gro Company (NYSE:SMG) opened at 95.37 on Friday. Scotts Miracle-Gro Company has a 1-year low of $79.65 and a 1-year high of $99.91. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 25.73 and a beta of 0.39. The stock has a 50 day moving average of $95.12 and a 200-day moving average of $92.06.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a net margin of 7.85% and a return on equity of 36.28%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts forecast that Scotts Miracle-Gro Company will post $4.09 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.22%. This is an increase from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, August 23rd. Scotts Miracle-Gro Company (The)’s payout ratio is presently 55.64%.

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About Scotts Miracle-Gro Company (The)

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.

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

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