Scotts Miracle-Gro Company (The) (SMG) Stake Lowered by Westside Investment Management Inc.

Westside Investment Management Inc. trimmed its holdings in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,425 shares of the basic materials company’s stock after selling 1 shares during the period. Westside Investment Management Inc.’s holdings in Scotts Miracle-Gro Company (The) were worth $130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FNY Managed Accounts LLC bought a new stake in shares of Scotts Miracle-Gro Company (The) during the 1st quarter worth $103,000. Almanack Investment Partners LLC. bought a new stake in shares of Scotts Miracle-Gro Company (The) during the 2nd quarter worth $132,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Scotts Miracle-Gro Company (The) by 7.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 116 shares during the period. Delta Asset Management LLC TN raised its stake in shares of Scotts Miracle-Gro Company (The) by 3.8% during the 2nd quarter. Delta Asset Management LLC TN now owns 2,025 shares of the basic materials company’s stock worth $181,000 after purchasing an additional 75 shares during the period. Finally, Creative Planning raised its stake in shares of Scotts Miracle-Gro Company (The) by 44.5% during the 2nd quarter. Creative Planning now owns 2,097 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 646 shares during the period. Institutional investors own 69.07% of the company’s stock.

Shares of Scotts Miracle-Gro Company (NYSE SMG) traded down 1.66% during midday trading on Friday, reaching $97.68. The company had a trading volume of 424,170 shares. The company’s 50-day moving average is $95.84 and its 200-day moving average is $92.70. Scotts Miracle-Gro Company has a 1-year low of $81.48 and a 1-year high of $99.99. The stock has a market capitalization of $5.71 billion, a PE ratio of 26.36 and a beta of 0.39.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last posted its earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company earned $2.16 earnings per share. Scotts Miracle-Gro Company (The)’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Scotts Miracle-Gro Company will post $4.08 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were issued a $0.53 dividend. This is an increase from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, August 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 2.17%. Scotts Miracle-Gro Company (The)’s dividend payout ratio is currently 55.64%.

In other news, Chairman James Hagedorn sold 92,357 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $96.41, for a total value of $8,904,138.37. Following the transaction, the chairman now owns 115,867 shares of the company’s stock, valued at $11,170,737.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 32,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $94.37, for a total value of $3,019,840.00. Following the completion of the transaction, the insider now directly owns 15,759,274 shares in the company, valued at approximately $1,487,202,687.38. The disclosure for this sale can be found here. In the last three months, insiders sold 254,859 shares of company stock worth $24,364,693. 28.16% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on SMG shares. BidaskClub upgraded Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. KeyCorp reissued a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a report on Monday, August 28th. Finally, Zacks Investment Research raised Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $100.00.

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

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