American International Group Inc. Has $8.14 Million Holdings in Scotts Miracle-Gro Company (The) (SMG)
American International Group Inc. lessened its stake in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,648 shares of the basic materials company’s stock after selling 6,596 shares during the quarter. American International Group Inc. owned about 0.14% of Scotts Miracle-Gro worth $8,142,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Almanack Investment Partners LLC. acquired a new stake in Scotts Miracle-Gro during the 2nd quarter valued at $132,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Scotts Miracle-Gro by 7.5% during the 2nd 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 period. Creative Planning lifted its stake in shares of Scotts Miracle-Gro by 44.5% during the 2nd quarter. Creative Planning now owns 2,097 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 646 shares during the period. Private Advisor Group LLC lifted its stake in shares of Scotts Miracle-Gro by 9.0% during the 2nd 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 period. Finally, Cetera Investment Advisers purchased a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth $247,000. Hedge funds and other institutional investors own 68.10% of the company’s stock.
Shares of Scotts Miracle-Gro Company (NYSE SMG) traded up $0.35 during trading on Friday, hitting $99.25. The company’s stock had a trading volume of 330,343 shares, compared to its average volume of 420,880. Scotts Miracle-Gro Company has a one year low of $81.48 and a one year high of $102.50. The stock has a market cap of $5,710.00, a price-to-earnings ratio of 23.49, a PEG ratio of 2.33 and a beta of 0.37. The company has a current ratio of 1.62, a quick ratio of 0.87 and a debt-to-equity ratio of 1.90.
Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. The business had revenue of $376.70 million for the quarter, compared to analyst estimates of $368.50 million. Scotts Miracle-Gro had a return on equity of 37.81% and a net margin of 7.51%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company posted ($0.30) EPS. analysts forecast that Scotts Miracle-Gro Company will post 4.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 65.23%.
SMG has been the topic of a number of recent analyst reports. Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. KeyCorp reissued a “hold” rating on shares of Scotts Miracle-Gro in a research note on Monday, August 28th. J P Morgan Chase & Co lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price target on the stock. in a research note on Wednesday, November 8th. Bank of America increased their price target on Scotts Miracle-Gro from $107.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, SunTrust Banks reissued a “hold” rating and set a $95.00 price target on shares of Scotts Miracle-Gro in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Scotts Miracle-Gro presently has a consensus rating of “Hold” and a consensus price target of $101.33.
In related news, major shareholder Paul Hagedorn sold 16,000 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $94.30, for a total value of $1,508,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas Randal Coleman sold 1,226 shares of the stock in a transaction on Thursday, October 5th. The stock was 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. Insiders sold a total of 28,813 shares of company stock worth $2,775,359 over the last ninety days. Corporate insiders own 28.16% of the company’s stock.
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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