Ancora Advisors LLC decreased its stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 94.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,000 shares of the basic materials company's stock after selling 75,206 shares during the period. Ancora Advisors LLC's holdings in Scotts Miracle-Gro were worth $272,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kestrel Investment Management Corp acquired a new position in Scotts Miracle-Gro during the first quarter worth about $2,390,000. Madison Asset Management LLC acquired a new stake in Scotts Miracle-Gro during the 2nd quarter worth about $7,163,000. Royal Bank of Canada grew its stake in Scotts Miracle-Gro by 182.2% during the 1st quarter. Royal Bank of Canada now owns 66,698 shares of the basic materials company's stock valued at $4,057,000 after acquiring an additional 43,066 shares in the last quarter. Bank of America Corp DE grew its stake in Scotts Miracle-Gro by 16.4% during the 1st quarter. Bank of America Corp DE now owns 658,602 shares of the basic materials company's stock valued at $40,050,000 after acquiring an additional 92,614 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Scotts Miracle-Gro by 9.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 387,170 shares of the basic materials company's stock valued at $22,591,000 after purchasing an additional 34,350 shares during the period. Hedge funds and other institutional investors own 74.07% of the company's stock.
Scotts Miracle-Gro Stock Up 0.3%
Shares of NYSE SMG opened at $59.46 on Friday. The firm's 50-day moving average price is $64.89 and its 200-day moving average price is $63.80. The company has a market cap of $3.46 billion, a PE ratio of 51.70 and a beta of 1.83. The Scotts Miracle-Gro Company has a 52-week low of $52.00 and a 52-week high of $75.34.
Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.34. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Scotts Miracle-Gro had a net margin of 2.19% and a negative return on equity of 81.90%. The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $2.59 earnings per share. As a group, equities research analysts anticipate that The Scotts Miracle-Gro Company will post 4.41 EPS for the current fiscal year.
Scotts Miracle-Gro Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were given a dividend of $0.66 per share. The ex-dividend date was Friday, August 21st. This represents a $2.64 dividend on an annualized basis and a yield of 4.4%. Scotts Miracle-Gro's dividend payout ratio is currently 229.57%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on SMG shares. Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Scotts Miracle-Gro in a research note on Friday, July 31st. Wall Street Zen cut shares of Scotts Miracle-Gro from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. UBS Group increased their target price on Scotts Miracle-Gro from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company lifted their price target on Scotts Miracle-Gro from $74.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $75.40.
Read Our Latest Stock Report on SMG
Insider Buying and Selling at Scotts Miracle-Gro
In other news, Director Mark D. Kingdon sold 831 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.65, for a total transaction of $51,231.15. Following the transaction, the director owned 10,827 shares in the company, valued at $667,484.55. This trade represents a 7.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hagedorn Partnership, L.P. sold 30,000 shares of Scotts Miracle-Gro stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $67.45, for a total value of $2,023,500.00. Following the completion of the sale, the director owned 13,137,641 shares in the company, valued at approximately $886,133,885.45. The trade was a 0.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 32,002 shares of company stock valued at $2,154,734. Company insiders own 24.40% of the company's stock.
Scotts Miracle-Gro Profile
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Free Report)
Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.
Headquartered in Marysville, Ohio, the company traces its roots to O.M.
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