Scotts Miracle-Gro Co (NYSE:SMG) Stock Holdings Reduced by Skylands Capital LLC

Skylands Capital LLC lowered its position in Scotts Miracle-Gro Co (NYSE:SMG) by 80.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,950 shares of the basic materials company’s stock after selling 20,950 shares during the quarter. Skylands Capital LLC’s holdings in Scotts Miracle-Gro were worth $488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in Scotts Miracle-Gro during the 4th quarter worth $367,000. Legal & General Group Plc boosted its stake in Scotts Miracle-Gro by 2.2% during the 4th quarter. Legal & General Group Plc now owns 58,288 shares of the basic materials company’s stock worth $3,583,000 after purchasing an additional 1,264 shares during the last quarter. Amalgamated Bank boosted its stake in Scotts Miracle-Gro by 23.7% during the 4th quarter. Amalgamated Bank now owns 8,630 shares of the basic materials company’s stock worth $530,000 after purchasing an additional 1,653 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Scotts Miracle-Gro by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 583,142 shares of the basic materials company’s stock worth $35,839,000 after purchasing an additional 94,356 shares during the last quarter. Finally, Norges Bank acquired a new stake in Scotts Miracle-Gro during the 4th quarter worth $31,340,000. Hedge funds and other institutional investors own 66.06% of the company’s stock.

Several research analysts have recently weighed in on the stock. Bank of America set a $96.00 price target on shares of Scotts Miracle-Gro and gave the company a “sell” rating in a research report on Wednesday, July 31st. TheStreet raised shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a research report on Wednesday, May 1st. SunTrust Banks boosted their price target on shares of Scotts Miracle-Gro to $120.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Finally, ValuEngine raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $87.42.

In related news, EVP James D. King sold 1,751 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $108.62, for a total value of $190,193.62. Following the sale, the executive vice president now directly owns 7,002 shares in the company, valued at approximately $760,557.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen L. Johnson sold 1,145 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $110.00, for a total transaction of $125,950.00. Following the completion of the sale, the director now owns 19,075 shares in the company, valued at $2,098,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 616,937 shares of company stock worth $67,494,652. Corporate insiders own 30.37% of the company’s stock.

Shares of SMG stock traded down $0.08 on Friday, hitting $110.22. 10,837 shares of the stock traded hands, compared to its average volume of 552,546. The company’s 50-day moving average price is $102.27. The company has a quick ratio of 0.90, a current ratio of 1.45 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $6.06 billion, a PE ratio of 29.69, a PEG ratio of 2.19 and a beta of 0.86. Scotts Miracle-Gro Co has a twelve month low of $57.96 and a twelve month high of $114.63.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.37. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Scotts Miracle-Gro had a net margin of 12.02% and a return on equity of 51.15%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.67 EPS. As a group, equities research analysts expect that Scotts Miracle-Gro Co will post 4.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.58 per share. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.32 annualized dividend and a dividend yield of 2.10%. Scotts Miracle-Gro’s payout ratio is presently 59.30%.

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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