Ridgewood Investments LLC Has $913,000 Position in Scotts Miracle-Gro Co (SMG)

Share on StockTwits

Ridgewood Investments LLC increased its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 25.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,618 shares of the basic materials company’s stock after acquiring an additional 2,348 shares during the period. Ridgewood Investments LLC’s holdings in Scotts Miracle-Gro were worth $913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Huntington National Bank increased its holdings in Scotts Miracle-Gro by 4.6% during the 1st quarter. Huntington National Bank now owns 2,838 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 125 shares during the period. LS Investment Advisors LLC increased its holdings in Scotts Miracle-Gro by 6.8% during the 4th quarter. LS Investment Advisors LLC now owns 2,305 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 146 shares during the period. Rehmann Capital Advisory Group increased its holdings in Scotts Miracle-Gro by 35.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 618 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 163 shares during the period. IMS Capital Management increased its holdings in Scotts Miracle-Gro by 8.8% during the 3rd quarter. IMS Capital Management now owns 2,174 shares of the basic materials company’s stock worth $171,000 after acquiring an additional 175 shares during the period. Finally, Curbstone Financial Management Corp increased its holdings in Scotts Miracle-Gro by 2.5% during the 4th quarter. Curbstone Financial Management Corp now owns 8,900 shares of the basic materials company’s stock worth $547,000 after acquiring an additional 220 shares during the period. 64.91% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Katherine Littlefield Hagedorn sold 2,665 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $74.07, for a total value of $197,396.55. Following the completion of the sale, the director now owns 4,035 shares of the company’s stock, valued at approximately $298,872.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 30.37% of the stock is currently owned by corporate insiders.

SMG has been the subject of a number of research reports. Raymond James raised shares of Scotts Miracle-Gro from a “market perform” rating to an “outperform” rating and set a $71.00 price target for the company in a research note on Monday, December 17th. JPMorgan Chase & Co. raised shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price target for the company in a research note on Thursday, January 31st. Finally, Zacks Investment Research raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Tuesday, January 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $77.62.

SMG stock traded down $0.52 during midday trading on Monday, reaching $81.35. The company had a trading volume of 4,935 shares, compared to its average volume of 430,474. The company has a debt-to-equity ratio of 8.63, a current ratio of 1.81 and a quick ratio of 0.56. Scotts Miracle-Gro Co has a 1 year low of $57.96 and a 1 year high of $91.81. The stock has a market cap of $4.49 billion, a PE ratio of 21.94, a P/E/G ratio of 2.00 and a beta of 0.92.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, January 30th. The basic materials company reported ($1.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.24) by ($0.15). Scotts Miracle-Gro had a return on equity of 47.98% and a net margin of 0.19%. The company had revenue of $298.10 million during the quarter, compared to analysts’ expectations of $287.24 million. During the same period in the prior year, the firm earned ($1.08) EPS. Scotts Miracle-Gro’s quarterly revenue was up 34.6% on a year-over-year basis. On average, research analysts expect that Scotts Miracle-Gro Co will post 4.2 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Ridgewood Investments LLC Has $913,000 Position in Scotts Miracle-Gro Co (SMG)” was originally reported by Week Herald and is the sole property of of Week Herald. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://weekherald.com/2019/04/15/ridgewood-investments-llc-has-913000-position-in-scotts-miracle-gro-co-smg.html.

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.

Further Reading: What is a Lock-Up Period?

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)

Receive News & Ratings for Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.