Magnetar Financial LLC purchased a new stake in Scotts Miracle-Gro Company (The) (NYSE:SMG) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 22,790 shares of the basic materials company’s stock, valued at approximately $2,218,000.
A number of other hedge funds also recently bought and sold shares of SMG. Almanack Investment Partners LLC. purchased a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Scotts Miracle-Gro by 7.5% during the second 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 last quarter. Private Advisor Group LLC raised its holdings in Scotts Miracle-Gro by 9.0% during the second quarter. Private Advisor Group LLC now owns 2,620 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 216 shares during the last quarter. Jensen Investment Management Inc. acquired a new position in Scotts Miracle-Gro during the third quarter worth $258,000. Finally, Cetera Investment Advisers acquired a new position in Scotts Miracle-Gro during the second quarter worth $247,000. 69.11% of the stock is currently owned by institutional investors.
In other Scotts Miracle-Gro news, EVP Ivan C. Smith sold 6,587 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $97.74, for a total transaction of $643,813.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Randal Coleman sold 1,226 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $99.67, for a total value of $122,195.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,813 shares of company stock valued at $1,266,559. Company insiders own 28.16% of the company’s stock.
Scotts Miracle-Gro Company (SMG) traded down $0.28 during midday trading on Friday, hitting $101.13. The stock had a trading volume of 194,222 shares, compared to its average volume of 420,831. Scotts Miracle-Gro Company has a 12 month low of $81.48 and a 12 month high of $102.50. The firm has a market capitalization of $5,777.17, a PE ratio of 23.97, a price-to-earnings-growth ratio of 2.38 and a beta of 0.36. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.87 and a current ratio of 1.62.
Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.04. Scotts Miracle-Gro had a return on equity of 37.81% and a net margin of 7.51%. The company had revenue of $376.70 million during the quarter, compared to analysts’ expectations of $368.50 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. analysts forecast that Scotts Miracle-Gro Company will post 4.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Wednesday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently 58.89%.
Several equities analysts recently issued reports on SMG shares. KeyCorp reaffirmed a “hold” rating on shares of Scotts Miracle-Gro in a report on Monday, August 28th. Zacks Investment Research cut Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. J P Morgan Chase & Co cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price target for the company. in a report on Wednesday, November 8th. Bank of America boosted their price target on Scotts Miracle-Gro from $107.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, SunTrust Banks reissued a “hold” rating and issued a $95.00 price target on shares of Scotts Miracle-Gro in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Scotts Miracle-Gro currently has an average rating of “Hold” and an average target price of $101.33.
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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