13,000 Shares in The Scotts Miracle-Gro Company $SMG Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,000 shares of the basic materials company’s stock, valued at approximately $791,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Key Capital Management INC bought a new position in shares of Scotts Miracle-Gro in the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in Scotts Miracle-Gro in the 3rd quarter valued at about $32,000. SBI Securities Co. Ltd. raised its position in shares of Scotts Miracle-Gro by 127.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock valued at $52,000 after buying an additional 499 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at approximately $53,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Scotts Miracle-Gro by 64.9% during the 4th quarter. Hantz Financial Services Inc. now owns 963 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 379 shares during the period. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Price Performance

Shares of SMG traded down $0.55 during trading hours on Tuesday, hitting $66.53. The stock had a trading volume of 34,957 shares, compared to its average volume of 925,183. The firm has a 50 day simple moving average of $62.09 and a 200-day simple moving average of $63.08. The firm has a market capitalization of $3.87 billion, a P/E ratio of 37.08 and a beta of 1.81. The Scotts Miracle-Gro Company has a 1-year low of $52.00 and a 1-year high of $72.35.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, beating the consensus estimate of $3.97 by $0.56. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $3.98 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts predict that The Scotts Miracle-Gro Company will post 4.3 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.66 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.64 annualized dividend and a yield of 4.0%. Scotts Miracle-Gro’s dividend payout ratio is presently 147.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group reissued a “neutral” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 23rd. Jefferies Financial Group restated a “buy” rating and set a $79.00 price objective on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. Wells Fargo & Company cut their target price on shares of Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.67.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.