Mason Street Advisors LLC Takes Position in Scotts Miracle-Gro Co. (SMG)
Mason Street Advisors LLC purchased a new stake in shares of Scotts Miracle-Gro Co. (NYSE:SMG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,662 shares of the company’s stock, valued at approximately $1,444,000.
Several other large investors also recently made changes to their positions in SMG. Glenmede Trust Co. NA raised its stake in shares of Scotts Miracle-Gro by 41.4% in the second quarter. Glenmede Trust Co. NA now owns 1,553 shares of the company’s stock valued at $107,000 after buying an additional 455 shares during the period. Meeder Asset Management Inc. acquired a new stake in Scotts Miracle-Gro during the first quarter valued at approximately $132,000. Tower Research Capital LLC TRC increased its stake in Scotts Miracle-Gro by 100.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,936 shares of the company’s stock valued at $135,000 after buying an additional 971 shares in the last quarter. Advisor Group Inc. acquired a new stake in Scotts Miracle-Gro during the second quarter valued at approximately $153,000. Finally, LS Investment Advisors LLC increased its stake in Scotts Miracle-Gro by 71.7% in the second quarter. LS Investment Advisors LLC now owns 2,726 shares of the company’s stock valued at $191,000 after buying an additional 1,138 shares in the last quarter. 70.02% of the stock is currently owned by institutional investors.
Scotts Miracle-Gro Co. (NYSE:SMG) opened at 80.35 on Tuesday. The firm has a market cap of $4.87 billion, a P/E ratio of 15.71 and a beta of 0.74. Scotts Miracle-Gro Co. has a 52-week low of $58.83 and a 52-week high of $83.59. The company’s 50 day moving average is $81.06 and its 200-day moving average is $73.44.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.04. The company had revenue of $994.10 million for the quarter, compared to analysts’ expectations of $1.05 billion. Scotts Miracle-Gro had a net margin of 10.72% and a return on equity of 36.35%. Scotts Miracle-Gro’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.68 earnings per share. On average, equities analysts predict that Scotts Miracle-Gro Co. will post $3.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.49%. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.47. The ex-dividend date was Wednesday, August 24th. Scotts Miracle-Gro’s dividend payout ratio is 39.06%.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, June 2nd. Tigress Financial restated a “buy” rating on shares of Scotts Miracle-Gro in a research report on Monday, August 29th. Finally, JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $85.00 in a research report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $83.33.
In related news, EVP Ivan C. Smith sold 1,394 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $82.92, for a total value of $115,590.48. Following the transaction, the executive vice president now directly owns 6,711 shares in the company, valued at $556,476.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael C. Lukemire sold 38,924 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $79.65, for a total transaction of $3,100,296.60. Following the transaction, the insider now owns 34,256 shares in the company, valued at $2,728,490.40. The disclosure for this sale can be found here. 27.28% of the stock is currently owned by corporate insiders.
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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