Scotts Miracle-Gro Co (SMG) Stake Increased by MML Investors Services LLC
MML Investors Services LLC increased its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 32.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,523 shares of the basic materials company’s stock after purchasing an additional 1,105 shares during the quarter. MML Investors Services LLC’s holdings in Scotts Miracle-Gro were worth $356,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schulhoff & Co. Inc. lifted its stake in Scotts Miracle-Gro by 2.0% in the third quarter. Schulhoff & Co. Inc. now owns 52,450 shares of the basic materials company’s stock valued at $4,129,000 after buying an additional 1,004 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Scotts Miracle-Gro by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 75,427 shares of the basic materials company’s stock valued at $5,939,000 after buying an additional 4,316 shares during the last quarter. Private Harbour Investment Management & Counsel LLC bought a new stake in Scotts Miracle-Gro in the third quarter valued at $1,324,000. Commonwealth Equity Services LLC lifted its stake in Scotts Miracle-Gro by 11.4% in the third quarter. Commonwealth Equity Services LLC now owns 11,649 shares of the basic materials company’s stock valued at $917,000 after buying an additional 1,194 shares during the last quarter. Finally, Wellington Shields Capital Management LLC lifted its stake in Scotts Miracle-Gro by 28.4% in the third quarter. Wellington Shields Capital Management LLC now owns 35,400 shares of the basic materials company’s stock valued at $2,787,000 after buying an additional 7,825 shares during the last quarter. Hedge funds and other institutional investors own 63.80% of the company’s stock.
In related news, Director Nancy G. Mistretta sold 6,300 shares of Scotts Miracle-Gro stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $76.93, for a total transaction of $484,659.00. Following the sale, the director now directly owns 20,824 shares in the company, valued at $1,601,990.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 29.14% of the stock is owned by insiders.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, November 7th. The basic materials company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Scotts Miracle-Gro had a net margin of 2.39% and a return on equity of 44.65%. The company had revenue of $434.00 million for the quarter, compared to the consensus estimate of $441.10 million. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. Scotts Miracle-Gro’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts predict that Scotts Miracle-Gro Co will post 4.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 26th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, November 23rd. Scotts Miracle-Gro’s dividend payout ratio is currently 59.30%.
A number of equities research analysts have issued reports on the company. ValuEngine upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Zacks Investment Research upgraded Scotts Miracle-Gro from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 18th. JPMorgan Chase & Co. cut their target price on Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating on the stock in a research note on Friday, August 24th. Finally, Bank of America set a $74.00 target price on Scotts Miracle-Gro and gave the company a “sell” rating in a research note on Monday, August 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.00.
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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.
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