Verition Fund Management LLC Takes $237,000 Position in Scotts Miracle-Gro Co (NYSE:SMG)

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Verition Fund Management LLC bought a new stake in Scotts Miracle-Gro Co (NYSE:SMG) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,761 shares of the basic materials company’s stock, valued at approximately $237,000.

Other large investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. raised its holdings in shares of Scotts Miracle-Gro by 392.0% in the first quarter. Rockefeller Capital Management L.P. now owns 246 shares of the basic materials company’s stock valued at $25,000 after buying an additional 196 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Scotts Miracle-Gro in the first quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Scotts Miracle-Gro by 62.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock valued at $32,000 after buying an additional 120 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Scotts Miracle-Gro by 192.5% in the first quarter. Harbor Investment Advisory LLC now owns 351 shares of the basic materials company’s stock valued at $36,000 after buying an additional 231 shares during the last quarter. Finally, Bartlett & Co. LLC purchased a new stake in shares of Scotts Miracle-Gro in the first quarter valued at about $41,000. 64.86% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE SMG opened at $160.57 on Wednesday. Scotts Miracle-Gro Co has a 1 year low of $76.50 and a 1 year high of $176.08. The firm’s 50 day moving average price is $162.17 and its 200 day moving average price is $134.41. The firm has a market cap of $8.95 billion, a P/E ratio of 28.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.16 and a current ratio of 1.61.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.37 by $0.43. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $3.11 earnings per share. Scotts Miracle-Gro’s revenue was up 27.5% compared to the same quarter last year. As a group, equities analysts predict that Scotts Miracle-Gro Co will post 6.82 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.54%. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 55.48%.

Several research analysts recently issued reports on SMG shares. William Blair reissued a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. SunTrust Banks increased their price target on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Raymond James reissued a “hold” rating on shares of Scotts Miracle-Gro in a report on Thursday, August 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $128.50.

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 82,379 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $132.68, for a total transaction of $10,930,045.72. Following the transaction, the insider now owns 14,874,809 shares of the company’s stock, valued at $1,973,589,658.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John R. Vines sold 1,491 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $157.79, for a total transaction of $235,264.89. Following the transaction, the director now directly owns 9,904 shares in the company, valued at approximately $1,562,752.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,685 shares of company stock worth $19,761,267. 28.20% of the stock is currently owned by insiders.

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

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