Scotts Miracle-Gro Co. (SMG) Position Raised by Glenmede Trust Co. NA
Glenmede Trust Co. NA raised its position in shares of Scotts Miracle-Gro Co. (NYSE:SMG) by 41.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,553 shares of the company’s stock after buying an additional 455 shares during the period. Glenmede Trust Co. NA’s holdings in Scotts Miracle-Gro were worth $107,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in SMG. First Trust Advisors LP increased its stake in shares of Scotts Miracle-Gro by 37.3% in the second quarter. First Trust Advisors LP now owns 134,034 shares of the company’s stock worth $9,370,000 after buying an additional 36,428 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Scotts Miracle-Gro during the second quarter worth approximately $503,000. State Board of Administration of Florida Retirement System increased its stake in shares of Scotts Miracle-Gro by 14.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 67,306 shares of the company’s stock worth $4,705,000 after buying an additional 8,533 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Scotts Miracle-Gro by 45.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 207,100 shares of the company’s stock worth $14,265,000 after buying an additional 64,742 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Scotts Miracle-Gro by 4.7% in the second quarter. California Public Employees Retirement System now owns 127,900 shares of the company’s stock worth $8,942,000 after buying an additional 5,700 shares in the last quarter. 70.02% of the stock is owned by institutional investors and hedge funds.
Shares of Scotts Miracle-Gro Co. (NYSE:SMG) traded up 0.68% on Monday, reaching $80.35. The company had a trading volume of 240,480 shares. Scotts Miracle-Gro Co. has a 52-week low of $58.83 and a 52-week high of $83.26. The stock has a market capitalization of $4.87 billion, a PE ratio of 15.71 and a beta of 0.74. The company has a 50 day moving average price of $80.21 and a 200 day moving average price of $72.71.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.04. Scotts Miracle-Gro had a return on equity of 36.35% and a net margin of 10.72%. The company earned $994.10 million during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned $2.68 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 26th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Wednesday, August 24th. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.47. Scotts Miracle-Gro’s dividend payout ratio is 39.06%.
A number of brokerages have recently commented on SMG. Tigress Financial reaffirmed a “buy” rating on shares of Scotts Miracle-Gro in a research report on Monday, August 29th. Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. Finally, JPMorgan Chase & Co. raised Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $85.00 in a research report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Scotts Miracle-Gro has an average rating of “Buy” and an average price target of $83.33.
In other news, EVP Ivan C. Smith sold 1,394 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $82.92, for a total transaction of $115,590.48. Following the completion of the sale, the executive vice president now owns 6,711 shares in the company, valued at approximately $556,476.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katherine Littlefield Hagedorn sold 15,050 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $82.50, for a total value of $1,241,625.00. Following the sale, the director now owns 20,207 shares of the company’s stock, valued at approximately $1,667,077.50. The disclosure for this sale can be found here. Insiders own 27.28% 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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