Tower Research Capital LLC TRC raised its position in Scotts Miracle-Gro Co. (NYSE:SMG) by 100.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,936 shares of the company’s stock after buying an additional 971 shares during the period. Tower Research Capital LLC TRC’s holdings in Scotts Miracle-Gro were worth $135,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of SMG. Vanguard Group Inc. increased its position in Scotts Miracle-Gro by 4.0% in the second quarter. Vanguard Group Inc. now owns 3,465,666 shares of the company’s stock valued at $242,285,000 after buying an additional 133,255 shares during the last quarter. Fisher Asset Management LLC increased its position in Scotts Miracle-Gro by 0.4% in the second quarter. Fisher Asset Management LLC now owns 1,484,559 shares of the company’s stock valued at $110,451,000 after buying an additional 6,220 shares during the last quarter. State Street Corp increased its position in Scotts Miracle-Gro by 1.4% in the first quarter. State Street Corp now owns 1,229,289 shares of the company’s stock valued at $89,460,000 after buying an additional 16,774 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Scotts Miracle-Gro by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,034,297 shares of the company’s stock valued at $72,307,000 after buying an additional 36,974 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Scotts Miracle-Gro by 17.7% in the second quarter. Victory Capital Management Inc. now owns 963,500 shares of the company’s stock valued at $67,358,000 after buying an additional 144,600 shares during the period. 69.92% of the stock is owned by institutional investors and hedge funds.
Scotts Miracle-Gro Co. (NYSE:SMG) opened at 83.48 on Monday. The stock’s 50 day moving average price is $81.94 and its 200 day moving average price is $74.44. Scotts Miracle-Gro Co. has a 12 month low of $62.20 and a 12 month high of $84.16. The firm has a market capitalization of $5.06 billion, a P/E ratio of 16.32 and a beta of 0.70.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.04. The business earned $994.10 million during the quarter, compared to analyst estimates of $1.05 billion. Scotts Miracle-Gro had a net margin of 10.72% and a return on equity of 36.35%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 earnings per share. On average, analysts forecast that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current year.
Several research firms have commented on SMG. Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $85.00 in a research note on Thursday, August 4th. Finally, Tigress Financial restated a “buy” rating on shares of Scotts Miracle-Gro in a research note on Monday, August 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $83.33.
In related news, Director Katherine Littlefield Hagedorn sold 15,050 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $82.50, for a total value of $1,241,625.00. Following the completion of the transaction, the director now owns 20,207 shares of the company’s stock, valued at $1,667,077.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Randal Coleman sold 4,927 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $82.51, for a total transaction of $406,526.77. Following the completion of the transaction, the chief financial officer now directly owns 4,323 shares of the company’s stock, valued at approximately $356,690.73. The disclosure for this sale can be found here. Insiders own 27.28% of the company’s stock.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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