First Trust Advisors LP Grows Position in Scotts Miracle-Gro Co (NYSE:SMG)

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First Trust Advisors LP increased its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 98.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 116,477 shares of the basic materials company’s stock after buying an additional 57,660 shares during the quarter. First Trust Advisors LP owned about 0.21% of Scotts Miracle-Gro worth $12,368,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SMG. Massachusetts Financial Services Co. MA lifted its position in Scotts Miracle-Gro by 39.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 332,437 shares of the basic materials company’s stock worth $33,849,000 after acquiring an additional 94,800 shares during the period. Voloridge Investment Management LLC lifted its position in Scotts Miracle-Gro by 215.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 100,847 shares of the basic materials company’s stock worth $10,268,000 after acquiring an additional 68,848 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in Scotts Miracle-Gro during the 3rd quarter worth approximately $6,303,000. BlackRock Inc. lifted its position in Scotts Miracle-Gro by 1.4% during the 2nd 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. Finally, Man Group plc lifted its position in Scotts Miracle-Gro by 188.9% during the 3rd quarter. Man Group plc now owns 73,105 shares of the basic materials company’s stock worth $7,444,000 after acquiring an additional 47,798 shares during the period. Hedge funds and other institutional investors own 66.44% of the company’s stock.

SMG has been the subject of a number of recent research reports. Berenberg Bank initiated coverage on Scotts Miracle-Gro in a research report on Wednesday, January 15th. They set a “hold” rating and a $99.00 price objective for the company. JPMorgan Chase & Co. raised their price target on Scotts Miracle-Gro from $103.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. ValuEngine raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Bank of America raised Scotts Miracle-Gro from a “neutral” rating to a “buy” rating and set a $108.00 price target for the company in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $106.02.

In other news, Director Adam Hanft sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $115.00, for a total value of $575,000.00. Following the completion of the sale, the director now directly owns 28,403 shares of the company’s stock, valued at approximately $3,266,345. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 28.20% of the stock is owned by company insiders.

SMG opened at $121.52 on Friday. The company has a debt-to-equity ratio of 3.13, a current ratio of 2.19 and a quick ratio of 0.77. The business has a 50 day simple moving average of $112.80 and a 200-day simple moving average of $106.10. The stock has a market capitalization of $6.72 billion, a P/E ratio of 14.59, a P/E/G ratio of 2.41 and a beta of 0.79. Scotts Miracle-Gro Co has a 12 month low of $75.91 and a 12 month high of $125.26.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($1.12) EPS for the quarter, beating the consensus estimate of ($1.24) by $0.12. The business had revenue of $365.80 million during the quarter, compared to analysts’ expectations of $345.32 million. Scotts Miracle-Gro had a return on equity of 38.31% and a net margin of 14.54%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.39) EPS. Research analysts anticipate that Scotts Miracle-Gro Co will post 5.11 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 25th will be issued a $0.58 dividend. The ex-dividend date is Monday, February 24th. This represents a $2.32 annualized dividend and a dividend yield of 1.91%. Scotts Miracle-Gro’s dividend payout ratio is currently 51.90%.

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.

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

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