Vanguard Group Inc. Raises Stake in Scotts Miracle-Gro Company (The) (SMG)

Vanguard Group Inc. increased its position in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,882,566 shares of the basic materials company’s stock after buying an additional 39,851 shares during the period. Vanguard Group Inc. owned 6.56% of Scotts Miracle-Gro Company (The) worth $347,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. D.A. Davidson & CO. grew its stake in shares of Scotts Miracle-Gro Company (The) by 19.4% in the 2nd quarter. D.A. Davidson & CO. now owns 12,068 shares of the basic materials company’s stock valued at $1,079,000 after buying an additional 1,958 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Scotts Miracle-Gro Company (The) by 18.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,394 shares of the basic materials company’s stock valued at $2,987,000 after buying an additional 5,287 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of Scotts Miracle-Gro Company (The) by 6.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 36,889 shares of the basic materials company’s stock valued at $3,300,000 after buying an additional 2,272 shares during the period. Thrivent Financial For Lutherans grew its stake in shares of Scotts Miracle-Gro Company (The) by 0.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 153,722 shares of the basic materials company’s stock valued at $13,752,000 after buying an additional 580 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Scotts Miracle-Gro Company (The) by 23.0% in the 2nd quarter. Amalgamated Bank now owns 8,907 shares of the basic materials company’s stock valued at $797,000 after buying an additional 1,668 shares during the period. Institutional investors own 69.07% of the company’s stock.

Shares of Scotts Miracle-Gro Company (NYSE SMG) opened at 97.68 on Friday. Scotts Miracle-Gro Company has a 52 week low of $81.48 and a 52 week high of $99.99. The stock has a 50 day moving average price of $95.84 and a 200 day moving average price of $92.70. The firm has a market capitalization of $5.71 billion, a P/E ratio of 26.36 and a beta of 0.39.

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

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

Several analysts have recently commented on the company. Zacks Investment Research downgraded Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub upgraded Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, KeyCorp restated a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Scotts Miracle-Gro Company (The) currently has an average rating of “Hold” and an average target price of $100.00.

In other Scotts Miracle-Gro Company (The) news, major shareholder Hagedorn Partnership, L.P. sold 32,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $94.37, for a total value of $3,019,840.00. Following the sale, the insider now owns 15,759,274 shares in the company, valued at $1,487,202,687.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michelle A. Johnson sold 470 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $96.40, for a total transaction of $45,308.00. Following the completion of the sale, the director now owns 8,074 shares in the company, valued at approximately $778,333.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,859 shares of company stock worth $24,364,693. Corporate insiders own 28.16% of the company’s stock.

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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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