New England Asset Management Inc. acquired a new position in Scotts Miracle-Gro Co (NYSE:SMG) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,467 shares of the basic materials company’s stock, valued at approximately $371,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in shares of Scotts Miracle-Gro by 14.4% in the 2nd quarter. Fisher Asset Management LLC now owns 1,506,427 shares of the basic materials company’s stock worth $125,274,000 after purchasing an additional 189,193 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Scotts Miracle-Gro by 42.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,498,720 shares of the basic materials company’s stock valued at $128,516,000 after buying an additional 442,933 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Scotts Miracle-Gro by 4.6% in the first quarter. Neuberger Berman Group LLC now owns 853,502 shares of the basic materials company’s stock valued at $73,202,000 after buying an additional 37,655 shares in the last quarter. Northern Trust Corp grew its stake in shares of Scotts Miracle-Gro by 0.8% in the first quarter. Northern Trust Corp now owns 667,682 shares of the basic materials company’s stock valued at $57,253,000 after buying an additional 5,626 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Scotts Miracle-Gro by 15.4% in the first quarter. Handelsbanken Fonder AB now owns 600,000 shares of the basic materials company’s stock valued at $51,450,000 after buying an additional 80,000 shares in the last quarter. Institutional investors own 65.43% of the company’s stock.

A number of research firms have recently issued reports on SMG. ValuEngine lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Bank of America reiterated a “sell” rating and issued a $80.00 target price on shares of Scotts Miracle-Gro in a research note on Wednesday, June 13th. JPMorgan Chase & Co. lowered their target price on Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating for the company in a research note on Friday, August 24th. Finally, Raymond James lowered Scotts Miracle-Gro from a “market perform” rating to an “underperform” rating in a research note on Wednesday, June 20th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Sell” and an average target price of $85.50.

In related news, major shareholder Hagedorn Partnership, L.P. sold 16,603 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $86.04, for a total value of $1,428,522.12. Following the sale, the insider now owns 15,673,272 shares of the company’s stock, valued at approximately $1,348,528,322.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Katherine Littlefield Hagedorn sold 40,329 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $77.76, for a total value of $3,135,983.04. Following the completion of the sale, the director now directly owns 6,511 shares in the company, valued at approximately $506,295.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,358 shares of company stock valued at $16,588,400. Insiders own 29.14% of the company’s stock.

SMG stock opened at $77.95 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 3.72. Scotts Miracle-Gro Co has a 1 year low of $72.67 and a 1 year high of $110.12. The stock has a market capitalization of $4.34 billion, a PE ratio of 19.78, a P/E/G ratio of 5.53 and a beta of 0.24.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.12. The firm had revenue of $994.60 million during the quarter, compared to analyst estimates of $996.40 million. Scotts Miracle-Gro had a return on equity of 43.37% and a net margin of 6.80%. During the same quarter last year, the firm earned $2.57 EPS. equities analysts predict that Scotts Miracle-Gro Co will post 3.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Monday, August 27th were given a $0.55 dividend. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, August 24th. This represents a $2.20 annualized dividend and a dividend yield of 2.82%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 55.84%.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

Further Reading: Outstanding Shares, Buying and Selling Stocks

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

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