Connecticut Wealth Management LLC continued to hold its position in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,945 shares of the basic materials company’s stock at the end of the second quarter. Scotts Miracle-Gro Company (The) makes up 0.7% of Connecticut Wealth Management LLC’s portfolio, making the stock its 17th largest position. Connecticut Wealth Management LLC’s holdings in Scotts Miracle-Gro Company (The) were worth $1,178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. World Asset Management Inc boosted its position in shares of Scotts Miracle-Gro Company (The) by 0.5% in the second quarter. World Asset Management Inc now owns 3,135 shares of the basic materials company’s stock worth $280,000 after buying an additional 17 shares during the period. Palo Capital Inc. boosted its position in shares of Scotts Miracle-Gro Company (The) by 0.3% in the first quarter. Palo Capital Inc. now owns 8,714 shares of the basic materials company’s stock worth $814,000 after buying an additional 28 shares during the period. Glen Harbor Capital Management LLC boosted its position in shares of Scotts Miracle-Gro Company (The) by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,392 shares of the basic materials company’s stock worth $130,000 after buying an additional 32 shares during the period. IFC Holdings Incorporated FL raised its stake in shares of Scotts Miracle-Gro Company (The) by 1.9% in the first quarter. IFC Holdings Incorporated FL now owns 2,406 shares of the basic materials company’s stock worth $223,000 after buying an additional 44 shares in the last quarter. Finally, Tyers Asset Management LLC raised its stake in shares of Scotts Miracle-Gro Company (The) by 2.4% in the first quarter. Tyers Asset Management LLC now owns 1,914 shares of the basic materials company’s stock worth $179,000 after buying an additional 44 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of Scotts Miracle-Gro Company (SMG) opened at 96.01 on Thursday. Scotts Miracle-Gro Company has a 12 month low of $78.73 and a 12 month high of $99.91. The firm has a 50-day moving average of $92.77 and a 200-day moving average of $91.64. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 25.91 and a beta of 0.40.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $2.63 EPS for the quarter, topping the Zacks’ consensus estimate of $2.51 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Scotts Miracle-Gro Company (The) had a net margin of 7.85% and a return on equity of 36.28%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. On average, analysts anticipate that Scotts Miracle-Gro Company will post $4.15 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be issued a $0.53 dividend. This is a positive change from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, August 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.21%. Scotts Miracle-Gro Company (The)’s dividend payout ratio is presently 52.49%.

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A number of analysts have weighed in on SMG shares. BidaskClub upgraded shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Zacks Investment Research upgraded shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $101.00.

In other news, EVP Ivan C. Smith sold 3,787 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $87.84, for a total value of $332,650.08. Following the transaction, the executive vice president now owns 18,849 shares of the company’s stock, valued at approximately $1,655,696.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Denise Stump sold 22,615 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $95.05, for a total transaction of $2,149,555.75. Following the completion of the transaction, the executive vice president now directly owns 19,444 shares in the company, valued at approximately $1,848,152.20. The disclosure for this sale can be found here. Insiders sold a total of 31,514 shares of company stock worth $2,929,813 in the last three months. Insiders own 28.16% of the company’s stock.

Scotts Miracle-Gro Company (The) 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.

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

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