Russell Investments Group Ltd. Buys New Stake in Scotts Miracle-Gro Co (SMG)
Russell Investments Group Ltd. acquired a new position in shares of Scotts Miracle-Gro Co (NYSE:SMG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,961 shares of the company’s stock, valued at approximately $2,460,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Creative Planning increased its position in shares of Scotts Miracle-Gro by 41.6% in the third quarter. Creative Planning now owns 1,223 shares of the company’s stock worth $102,000 after buying an additional 359 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in Scotts Miracle-Gro during the third quarter worth about $208,000. Opus Capital Group LLC acquired a new stake in Scotts Miracle-Gro during the third quarter worth about $234,000. Advisor Group Inc. raised its stake in Scotts Miracle-Gro by 29.3% in the third quarter. Advisor Group Inc. now owns 2,865 shares of the company’s stock worth $238,000 after buying an additional 650 shares during the period. Finally, LS Investment Advisors LLC raised its stake in Scotts Miracle-Gro by 6.8% in the third quarter. LS Investment Advisors LLC now owns 2,912 shares of the company’s stock worth $242,000 after buying an additional 186 shares during the period. 66.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of Scotts Miracle-Gro Co (NYSE:SMG) opened at 92.14 on Tuesday. The firm has a 50-day moving average price of $91.92 and a 200-day moving average price of $89.50. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 17.16 and a beta of 0.64. Scotts Miracle-Gro Co has a 12-month low of $65.80 and a 12-month high of $98.82.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Tuesday, January 31st. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($1.25) by $0.29. The company earned $246.80 million during the quarter, compared to analysts’ expectations of $232.93 million. Scotts Miracle-Gro had a return on equity of 34.31% and a net margin of 11.64%. Scotts Miracle-Gro’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.14) earnings per share. Equities research analysts anticipate that Scotts Miracle-Gro Co will post $4.30 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.17%. Scotts Miracle-Gro’s dividend payout ratio is currently 37.24%.
Your IP Address:
A number of analysts have issued reports on the company. Zacks Investment Research lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Thursday, March 16th. SunTrust Banks, Inc. lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a report on Wednesday, January 11th. Finally, Bank of America Corp raised Scotts Miracle-Gro from an “underperform” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Thursday, December 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $97.00.
Scotts Miracle-Gro 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.
Want to see what other hedge funds are holding SMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scotts Miracle-Gro Co (NYSE:SMG).
Receive News & Ratings for Scotts Miracle-Gro Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro Co and related companies with Analyst Ratings Network's FREE daily email newsletter.