Retirement Systems of Alabama decreased its position in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 56,830 shares of the basic materials company’s stock after selling 339 shares during the period. Retirement Systems of Alabama’s holdings in Scotts Miracle-Gro Company (The) were worth $5,084,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Creative Planning boosted its stake in Scotts Miracle-Gro Company (The) by 4.3% in the first quarter. Creative Planning now owns 1,451 shares of the basic materials company’s stock worth $135,000 after buying an additional 60 shares during the last quarter. Bank of Montreal Can boosted its stake in Scotts Miracle-Gro Company (The) by 6.1% in the first quarter. Bank of Montreal Can now owns 21,637 shares of the basic materials company’s stock worth $2,021,000 after buying an additional 1,248 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Scotts Miracle-Gro Company (The) by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the basic materials company’s stock worth $1,046,000 after buying an additional 200 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Scotts Miracle-Gro Company (The) by 3.2% in the first quarter. Nisa Investment Advisors LLC now owns 32,725 shares of the basic materials company’s stock worth $3,056,000 after buying an additional 1,000 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its stake in Scotts Miracle-Gro Company (The) by 62.5% in the first quarter. Oakbrook Investments LLC now owns 3,900 shares of the basic materials company’s stock worth $364,000 after buying an additional 1,500 shares during the last quarter. 66.16% of the stock is owned by institutional investors.

Shares of Scotts Miracle-Gro Company (NYSE SMG) opened at 94.66 on Friday. The firm has a market capitalization of $5.53 billion, a PE ratio of 25.54 and a beta of 0.40. The firm’s 50-day moving average price is $94.15 and its 200-day moving average price is $91.72. Scotts Miracle-Gro Company has a 52-week low of $78.73 and a 52-week high of $99.91.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.24%. This is an increase from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, August 23rd. Scotts Miracle-Gro Company (The)’s dividend payout ratio is 52.49%.

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SMG has been the subject of a number of recent research reports. Zacks Investment Research cut Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. BidaskClub raised Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $101.00.

In other Scotts Miracle-Gro Company (The) news, insider Michael C. Lukemire sold 18,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $96.14, for a total value of $1,730,520.00. Following the transaction, the insider now owns 23,969 shares of the company’s stock, valued at $2,304,379.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michelle A. Johnson sold 470 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $96.40, for a total value of $45,308.00. Following the completion of the transaction, the director now directly owns 8,074 shares in the company, valued at approximately $778,333.60. The disclosure for this sale can be found here. Insiders sold 190,859 shares of company stock valued at $18,326,133 over the last 90 days. 28.16% of the stock is currently owned by insiders.

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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