Bank of Montreal Can increased its position in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) by 13.0% during the second quarter, Holdings Channel reports. The firm owned 24,451 shares of the basic materials company’s stock after buying an additional 2,814 shares during the period. Bank of Montreal Can’s holdings in Scotts Miracle-Gro Company (The) were worth $2,187,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Scotts Miracle-Gro Company (The) by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,842,715 shares of the basic materials company’s stock worth $358,871,000 after buying an additional 159,996 shares during the period. BlackRock Inc. boosted its position in shares of Scotts Miracle-Gro Company (The) by 4,283.1% in the first quarter. BlackRock Inc. now owns 3,698,839 shares of the basic materials company’s stock worth $345,434,000 after buying an additional 3,614,451 shares during the period. State Street Corp boosted its position in shares of Scotts Miracle-Gro Company (The) by 1.2% in the first quarter. State Street Corp now owns 1,166,072 shares of the basic materials company’s stock worth $108,897,000 after buying an additional 13,422 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Scotts Miracle-Gro Company (The) by 43.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 829,075 shares of the basic materials company’s stock worth $77,427,000 after buying an additional 249,101 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of Scotts Miracle-Gro Company (The) by 32.1% in the first quarter. Neuberger Berman Group LLC now owns 679,680 shares of the basic materials company’s stock worth $63,475,000 after buying an additional 165,176 shares during the period. 68.04% of the stock is owned by institutional investors.

Shares of Scotts Miracle-Gro Company (SMG) traded down 0.03% on Friday, reaching $95.38. 348,279 shares of the company’s stock were exchanged. Scotts Miracle-Gro Company has a 1-year low of $78.73 and a 1-year high of $99.91. The stock’s 50-day moving average price is $93.16 and its 200-day moving average price is $91.67. The company has a market capitalization of $5.65 billion, a P/E ratio of 25.74 and a beta of 0.40.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a net margin of 7.85% and a return on equity of 36.28%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that Scotts Miracle-Gro Company will post $4.15 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. Scotts Miracle-Gro Company (The)’s payout ratio is currently 52.49%.

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A number of research analysts have issued reports on SMG shares. BidaskClub raised shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $101.00.

In other news, CFO Thomas Randal Coleman sold 5,112 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $87.56, for a total transaction of $447,606.72. Following the sale, the chief financial officer now owns 14,090 shares in the company, valued at $1,233,720.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael C. Lukemire sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $96.14, for a total transaction of $1,730,520.00. Following the sale, the insider now owns 23,969 shares in the company, valued at approximately $2,304,379.66. The disclosure for this sale can be found here. Insiders have sold 63,487 shares of company stock worth $6,003,697 in the last 90 days. 28.16% of the stock is owned by company insiders.

Scotts Miracle-Gro Company (The) 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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Institutional Ownership by Quarter for Scotts Miracle-Gro Company (The) (NYSE:SMG)

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