Stevens First Principles Investment Advisors Continues to Hold Position in Scotts Miracle-Gro Co. (SMG)
Stevens First Principles Investment Advisors maintained its stake in Scotts Miracle-Gro Co. (NYSE:SMG) during the second quarter, Holdings Channel reports. The fund owned 2,430 shares of the company’s stock at the end of the second quarter. Stevens First Principles Investment Advisors’ holdings in Scotts Miracle-Gro were worth $170,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake in Scotts Miracle-Gro by 12.7% in the first quarter. Aperio Group LLC now owns 16,155 shares of the company’s stock valued at $1,176,000 after buying an additional 1,819 shares during the last quarter. Ngam Advisors L.P. purchased a new stake in Scotts Miracle-Gro during the first quarter valued at approximately $2,831,000. TIAA CREF Investment Management LLC raised its stake in shares of Scotts Miracle-Gro by 3.2% in the first quarter. TIAA CREF Investment Management LLC now owns 279,012 shares of the company’s stock worth $20,304,000 after buying an additional 8,603 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Scotts Miracle-Gro by 0.4% in the first quarter. Teachers Advisors Inc. now owns 207,141 shares of the company’s stock worth $15,074,000 after buying an additional 887 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of Scotts Miracle-Gro during the first quarter worth about $306,000. 69.92% of the stock is currently owned by hedge funds and other institutional investors.
Scotts Miracle-Gro Co. (NYSE:SMG) traded up 0.78% during trading on Monday, hitting $84.13. 98,106 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $81.94 and its 200 day moving average price is $74.44. The stock has a market cap of $5.10 billion, a P/E ratio of 16.45 and a beta of 0.70. Scotts Miracle-Gro Co. has a 12-month low of $62.20 and a 12-month high of $84.42.
Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, beating the consensus estimate of $2.12 by $0.04. The business had revenue of $994.10 million for the quarter, compared to analyst estimates of $1.05 billion. Scotts Miracle-Gro had a net margin of 10.72% and a return on equity of 36.35%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.68 earnings per share. Analysts anticipate that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current fiscal year.
A number of analysts have issued reports on SMG shares. Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. JPMorgan Chase & Co. raised Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $85.00 in a research report on Thursday, August 4th. Finally, Tigress Financial reissued a “buy” rating on shares of Scotts Miracle-Gro in a research report on Monday, August 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $83.33.
In related news, CFO Thomas Randal Coleman sold 4,927 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $82.51, for a total transaction of $406,526.77. Following the sale, the chief financial officer now owns 4,323 shares in the company, valued at $356,690.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael C. Lukemire sold 38,924 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $79.65, for a total transaction of $3,100,296.60. Following the sale, the insider now owns 34,256 shares in the company, valued at approximately $2,728,490.40. The disclosure for this sale can be found here. 27.28% of the stock is currently owned by insiders.
About Scotts Miracle-Gro
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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