BBVA USA Bancshares Inc. lifted its stake in Scotts Miracle-Gro Co (NYSE:SMG) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,820 shares of the basic materials company’s stock after acquiring an additional 4,134 shares during the period. BBVA USA Bancshares Inc. owned approximately 0.05% of Scotts Miracle-Gro worth $3,036,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Scotts Miracle-Gro by 3.2% in the second quarter. Vanguard Group Inc. now owns 3,943,112 shares of the basic materials company’s stock worth $388,396,000 after acquiring an additional 121,764 shares during the period. BlackRock Inc. boosted its holdings in shares of Scotts Miracle-Gro by 1.4% in the second quarter. BlackRock Inc. now owns 3,715,918 shares of the basic materials company’s stock worth $366,019,000 after acquiring an additional 51,091 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Scotts Miracle-Gro by 2.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,618,470 shares of the basic materials company’s stock worth $257,920,000 after acquiring an additional 65,413 shares during the period. Bank of New York Mellon Corp boosted its stake in Scotts Miracle-Gro by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 705,605 shares of the basic materials company’s stock valued at $69,502,000 after buying an additional 10,549 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Scotts Miracle-Gro by 1.8% during the second quarter. Macquarie Group Ltd. now owns 508,160 shares of the basic materials company’s stock valued at $50,054,000 after buying an additional 8,778 shares during the period. 66.52% of the stock is owned by hedge funds and other institutional investors.
In other Scotts Miracle-Gro news, Director Nancy G. Mistretta sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.98, for a total transaction of $269,950.00. Following the sale, the director now owns 18,454 shares in the company, valued at $1,992,662.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 30.37% of the company’s stock.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported ($0.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.87) by ($0.04). Scotts Miracle-Gro had a net margin of 12.02% and a return on equity of 51.15%. The business had revenue of $497.70 million for the quarter, compared to the consensus estimate of $451.49 million. During the same period in the prior year, the business posted ($0.75) EPS. Scotts Miracle-Gro’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts forecast that Scotts Miracle-Gro Co will post 5.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.32 dividend on an annualized basis and a yield of 2.18%. Scotts Miracle-Gro’s payout ratio is 51.90%.
SMG has been the subject of several research analyst reports. Zacks Investment Research lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and set a $117.00 price objective for the company. in a research note on Tuesday, October 1st. ValuEngine raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Friday. SunTrust Banks lifted their price objective on Scotts Miracle-Gro to $120.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Finally, Bank of America raised Scotts Miracle-Gro from a “neutral” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $98.42.
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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