TIAA CREF Investment Management LLC raised its holdings in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 23.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,818 shares of the basic materials company’s stock after buying an additional 32,845 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Scotts Miracle-Gro were worth $18,276,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position in Scotts Miracle-Gro by 2,291.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,148 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,100 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in Scotts Miracle-Gro during the fourth quarter worth about $172,000. Charter Trust Co. purchased a new position in Scotts Miracle-Gro during the fourth quarter worth about $203,000. Carnick & Kubik Group LLC purchased a new position in Scotts Miracle-Gro during the fourth quarter worth about $209,000. Finally, Narwhal Capital Management purchased a new position in Scotts Miracle-Gro during the fourth quarter worth about $214,000. Institutional investors and hedge funds own 66.63% of the company’s stock.
Shares of SMG stock opened at $85.75 on Friday. The company has a debt-to-equity ratio of 3.34, a current ratio of 2.09 and a quick ratio of 0.61. Scotts Miracle-Gro Co has a 12-month low of $81.48 and a 12-month high of $110.12. The stock has a market cap of $4,881.23, a price-to-earnings ratio of 21.76, a PEG ratio of 1.64 and a beta of 0.21.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 53.81%.
In other Scotts Miracle-Gro news, Director Katherine Littlefield Hagedorn sold 2,892 shares of Scotts Miracle-Gro stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $89.50, for a total transaction of $258,834.00. Following the completion of the sale, the director now owns 9,043 shares of the company’s stock, valued at $809,348.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 29.14% of the company’s stock.
Several research firms recently commented on SMG. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $121.00 target price for the company in a research report on Wednesday, January 10th. Bank of America set a $120.00 target price on Scotts Miracle-Gro and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Scotts Miracle-Gro has an average rating of “Hold” and an average price target of $104.25.
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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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