HighTower Advisors LLC Sells 254 Shares of Scotts Miracle-Gro Company (The) (SMG)

HighTower Advisors LLC trimmed its position in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,868 shares of the basic materials company’s stock after selling 254 shares during the period. HighTower Advisors LLC’s holdings in Scotts Miracle-Gro Company (The) were worth $1,062,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Scotts Miracle-Gro Company (The) by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,882,566 shares of the basic materials company’s stock valued at $347,335,000 after purchasing an additional 39,851 shares in the last quarter. BlackRock Inc. lifted its holdings in Scotts Miracle-Gro Company (The) by 4,283.1% in the 1st quarter. BlackRock Inc. now owns 3,698,839 shares of the basic materials company’s stock valued at $345,434,000 after purchasing an additional 3,614,451 shares in the last quarter. State Street Corp lifted its holdings in Scotts Miracle-Gro Company (The) by 1.2% in the 1st quarter. State Street Corp now owns 1,166,072 shares of the basic materials company’s stock valued at $108,897,000 after purchasing an additional 13,422 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Scotts Miracle-Gro Company (The) by 7.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 889,383 shares of the basic materials company’s stock valued at $79,565,000 after purchasing an additional 60,308 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Scotts Miracle-Gro Company (The) by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 711,598 shares of the basic materials company’s stock valued at $63,660,000 after purchasing an additional 29,782 shares in the last quarter. Institutional investors own 69.07% of the company’s stock.

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In other news, Chairman James Hagedorn sold 43,444 shares of Scotts Miracle-Gro Company (The) stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $95.60, for a total transaction of $4,153,246.40. Following the completion of the sale, the chairman now directly owns 66,009 shares in the company, valued at approximately $6,310,460.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas Randal Coleman sold 1,226 shares of Scotts Miracle-Gro Company (The) stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $99.67, for a total value of $122,195.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,085 shares of company stock worth $24,486,888. Company insiders own 28.16% of the company’s stock.

SMG has been the topic of several recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a report on Monday, August 28th. Zacks Investment Research upgraded shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, BidaskClub upgraded shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Scotts Miracle-Gro Company (The) currently has an average rating of “Hold” and a consensus price target of $100.00.

Scotts Miracle-Gro Company (NYSE:SMG) opened at 98.95 on Friday. The stock’s 50 day moving average is $96.19 and its 200 day moving average is $92.87. Scotts Miracle-Gro Company has a one year low of $81.48 and a one year high of $99.99. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 26.70 and a beta of 0.39.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last released its earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Scotts Miracle-Gro Company will post $4.08 EPS for the current year.

Scotts Miracle-Gro Company (The) 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.

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

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