Scotts Miracle-Gro Co (NYSE:SMG) EVP Ivan C. Smith sold 2,972 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $164.40, for a total value of $488,596.80. Following the completion of the transaction, the executive vice president now directly owns 10,674 shares in the company, valued at $1,754,805.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Scotts Miracle-Gro stock opened at $157.25 on Friday. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 27.54 and a beta of 0.93. Scotts Miracle-Gro Co has a 52 week low of $76.50 and a 52 week high of $167.46. The business’s 50-day moving average price is $137.54 and its 200 day moving average price is $123.54. The company has a quick ratio of 1.32, a current ratio of 2.08 and a debt-to-equity ratio of 2.66.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.37 by $0.43. Scotts Miracle-Gro had a return on equity of 42.92% and a net margin of 9.49%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned $3.11 earnings per share. Scotts Miracle-Gro’s quarterly revenue was up 27.5% compared to the same quarter last year. Equities analysts expect that Scotts Miracle-Gro Co will post 5.79 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be issued a $0.62 dividend. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. This represents a $2.48 annualized dividend and a yield of 1.58%. The ex-dividend date is Wednesday, August 26th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 51.90%.

SMG has been the topic of a number of research reports. William Blair reissued a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. SunTrust Banks raised their target price on Scotts Miracle-Gro from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. TheStreet raised Scotts Miracle-Gro from a “c+” rating to a “b” rating in a report on Wednesday, May 6th. Finally, Raymond James lowered Scotts Miracle-Gro from a “strong-buy” rating to a “market perform” rating and set a $152.00 target price on the stock. in a report on Tuesday, May 26th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $128.50.

A number of institutional investors and hedge funds have recently modified their holdings of SMG. Massachusetts Financial Services Co. MA grew its holdings in Scotts Miracle-Gro by 103.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 777,813 shares of the basic materials company’s stock valued at $79,648,000 after purchasing an additional 394,650 shares during the period. Norges Bank acquired a new stake in Scotts Miracle-Gro in the fourth quarter valued at approximately $41,043,000. Wedge Capital Management L L P NC acquired a new stake in Scotts Miracle-Gro in the second quarter valued at approximately $30,219,000. Raymond James & Associates grew its holdings in Scotts Miracle-Gro by 109.3% in the first quarter. Raymond James & Associates now owns 252,653 shares of the basic materials company’s stock valued at $25,872,000 after purchasing an additional 131,953 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Scotts Miracle-Gro by 44.8% in the first quarter. Federated Hermes Inc. now owns 402,018 shares of the basic materials company’s stock valued at $41,167,000 after purchasing an additional 124,467 shares during the period. 63.07% of the stock is currently owned by institutional investors.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as 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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