Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,712 shares of the basic materials company’s stock after selling 576 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Scotts Miracle-Gro were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SMG. Russell Investments Group Ltd. acquired a new stake in Scotts Miracle-Gro in the 3rd quarter valued at $6,913,000. Comerica Bank increased its stake in shares of Scotts Miracle-Gro by 45.6% during the 3rd quarter. Comerica Bank now owns 43,546 shares of the basic materials company’s stock worth $3,008,000 after purchasing an additional 13,648 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth about $145,000. Wells Fargo & Company MN increased its stake in shares of Scotts Miracle-Gro by 25.3% during the 3rd quarter. Wells Fargo & Company MN now owns 663,861 shares of the basic materials company’s stock worth $52,266,000 after purchasing an additional 133,968 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Scotts Miracle-Gro by 23.5% during the 3rd quarter. American Century Companies Inc. now owns 8,284 shares of the basic materials company’s stock worth $652,000 after purchasing an additional 1,577 shares during the last quarter. 63.99% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Katherine Littlefield Hagedorn sold 2,665 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $74.07, for a total value of $197,396.55. Following the transaction, the director now owns 4,035 shares in the company, valued at approximately $298,872.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 50,000 shares of the company’s stock in a transaction dated Monday, January 14th. The shares were sold at an average price of $68.27, for a total transaction of $3,413,500.00. Following the completion of the transaction, the insider now owns 15,602,150 shares in the company, valued at approximately $1,065,158,780.50. The disclosure for this sale can be found here. 30.37% of the stock is currently owned by corporate insiders.

SMG has been the topic of several recent analyst reports. Raymond James upgraded shares of Scotts Miracle-Gro from a “market perform” rating to an “outperform” rating and set a $71.00 price objective on the stock in a research note on Monday, December 17th. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, January 8th. Finally, JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research note on Thursday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Scotts Miracle-Gro presently has a consensus rating of “Buy” and an average target price of $76.40.

Scotts Miracle-Gro stock opened at $81.07 on Friday. The stock has a market cap of $4.48 billion, a PE ratio of 21.85, a PEG ratio of 2.00 and a beta of 0.93. Scotts Miracle-Gro Co has a fifty-two week low of $57.96 and a fifty-two week high of $91.81. The company has a current ratio of 1.81, a quick ratio of 0.56 and a debt-to-equity ratio of 8.63.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, January 30th. The basic materials company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.15). The firm had revenue of $298.10 million for the quarter, compared to analyst estimates of $287.24 million. Scotts Miracle-Gro had a return on equity of 47.98% and a net margin of 0.19%. The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.08) earnings per share. Research analysts expect that Scotts Miracle-Gro Co will post 4.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 22nd were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.71%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 59.30%.

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Scotts Miracle-Gro Profile

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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Want to see what other hedge funds are holding SMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scotts Miracle-Gro Co (NYSE:SMG).

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

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