BNP Paribas Arbitrage SA lowered its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 86.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,543 shares of the basic materials company’s stock after selling 22,597 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Scotts Miracle-Gro were worth $295,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. bought a new stake in Scotts Miracle-Gro during the first quarter valued at $179,000. Mackay Shields LLC bought a new stake in Scotts Miracle-Gro during the first quarter valued at $210,000. Atria Investments LLC bought a new stake in Scotts Miracle-Gro during the second quarter valued at $211,000. South State Corp bought a new stake in Scotts Miracle-Gro during the first quarter valued at $212,000. Finally, Outfitter Advisors LTD. bought a new stake in Scotts Miracle-Gro during the second quarter valued at $223,000. 66.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE SMG opened at $76.96 on Tuesday. Scotts Miracle-Gro Co has a 1-year low of $72.67 and a 1-year high of $110.12. The stock has a market cap of $4.18 billion, a PE ratio of 19.53, a P/E/G ratio of 2.91 and a beta of 0.23. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 3.72.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.12. Scotts Miracle-Gro had a net margin of 6.80% and a return on equity of 43.37%. The firm had revenue of $994.60 million for the quarter, compared to analyst estimates of $996.40 million. During the same quarter in the prior year, the business earned $2.57 earnings per share. equities analysts anticipate that Scotts Miracle-Gro Co will post 3.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Monday, August 27th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 24th. This represents a $2.20 annualized dividend and a dividend yield of 2.86%. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.53. Scotts Miracle-Gro’s dividend payout ratio is currently 53.81%.

In other news, Director Katherine Littlefield Hagedorn sold 14,947 shares of the company’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $86.04, for a total transaction of $1,286,039.88. Following the transaction, the director now owns 6,511 shares in the company, valued at $560,206.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Hagedorn sold 86,686 shares of the company’s stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $83.69, for a total transaction of $7,254,751.34. Following the transaction, the chief executive officer now owns 145,852 shares in the company, valued at approximately $12,206,353.88. The disclosure for this sale can be found here. Insiders have sold 203,358 shares of company stock worth $16,588,400 in the last quarter. Company insiders own 29.14% of the company’s stock.

A number of analysts have commented on SMG shares. Bank of America reaffirmed a “sell” rating and set a $80.00 price target on shares of Scotts Miracle-Gro in a research report on Wednesday, June 13th. ValuEngine cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $95.00 to $85.00 in a report on Friday, June 1st. SunTrust Banks upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, May 15th. They noted that the move was a valuation call. Finally, Raymond James lowered shares of Scotts Miracle-Gro from a “market perform” rating to an “underperform” rating in a report on Wednesday, June 20th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Sell” and an average target price of $89.25.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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