Tandem Capital Management Corp ADV Buys 210 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Tandem Capital Management Corp ADV raised its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 8.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,684 shares of the basic materials company’s stock after acquiring an additional 210 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in The Scotts Miracle-Gro were worth $657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategy Asset Managers LLC increased its stake in shares of The Scotts Miracle-Gro by 2.1% in the first quarter. Strategy Asset Managers LLC now owns 2,254 shares of the basic materials company’s stock worth $552,000 after purchasing an additional 46 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in The Scotts Miracle-Gro by 1.9% during the first quarter. CIBC Private Wealth Group LLC now owns 2,546 shares of the basic materials company’s stock valued at $624,000 after purchasing an additional 48 shares in the last quarter. Nicollet Investment Management Inc. raised its stake in shares of The Scotts Miracle-Gro by 0.6% in the first quarter. Nicollet Investment Management Inc. now owns 7,955 shares of the basic materials company’s stock valued at $1,949,000 after acquiring an additional 49 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in shares of The Scotts Miracle-Gro by 2.3% in the first quarter. HighPoint Advisor Group LLC now owns 2,243 shares of the basic materials company’s stock valued at $558,000 after acquiring an additional 51 shares during the last quarter. Finally, Tower View Investment Management & Research LLC raised its stake in shares of The Scotts Miracle-Gro by 0.4% in the first quarter. Tower View Investment Management & Research LLC now owns 14,041 shares of the basic materials company’s stock valued at $3,440,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

NYSE SMG traded down $2.09 on Friday, reaching $191.96. The company had a trading volume of 8,256 shares, compared to its average volume of 394,519. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 20.47 and a beta of 1.15. The company has a quick ratio of 1.15, a current ratio of 1.91 and a debt-to-equity ratio of 2.47. The Scotts Miracle-Gro Company has a 1-year low of $126.75 and a 1-year high of $254.34. The stock’s fifty day moving average price is $228.69.

The Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, May 5th. The basic materials company reported $5.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.51 by $0.13. The Scotts Miracle-Gro had a net margin of 10.91% and a return on equity of 67.91%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business earned $4.50 EPS. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. Research analysts anticipate that The Scotts Miracle-Gro Company will post 9.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Thursday, May 27th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.29%. The ex-dividend date was Wednesday, May 26th. The Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 34.25%.

Several research firms recently weighed in on SMG. Truist Securities boosted their price objective on shares of The Scotts Miracle-Gro from $275.00 to $300.00 in a research report on Thursday, May 6th. Truist boosted their price objective on shares of The Scotts Miracle-Gro from $275.00 to $300.00 in a research report on Thursday, May 6th. Finally, Raymond James boosted their price objective on shares of The Scotts Miracle-Gro from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, June 2nd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The Scotts Miracle-Gro has an average rating of “Buy” and an average price target of $247.57.

In related news, CEO James Hagedorn sold 24,219 shares of the stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $227.99, for a total value of $5,521,689.81. Following the completion of the transaction, the chief executive officer now directly owns 99,719 shares in the company, valued at approximately $22,734,934.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Susan Hagedorn sold 888 shares of the stock in a transaction dated Wednesday, May 12th. The stock was sold at an average price of $236.99, for a total transaction of $210,447.12. Following the completion of the transaction, the insider now owns 14,599,964 shares of the company’s stock, valued at $3,460,045,468.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,998 shares of company stock worth $12,398,987. Insiders own 27.17% of the company’s stock.

About The 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 The Scotts Miracle-Gro (NYSE:SMG)

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