Scotts Miracle-Gro Company (The) (SMG) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its stake in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,277 shares of the basic materials company’s stock after buying an additional 1,976 shares during the period. Nuveen Asset Management LLC’s holdings in Scotts Miracle-Gro Company (The) were worth $1,613,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC bought a new stake in Scotts Miracle-Gro Company (The) during the first quarter worth $103,000. Ropes Wealth Advisors LLC bought a new stake in Scotts Miracle-Gro Company (The) during the first quarter worth $121,000. Glen Harbor Capital Management LLC increased its stake in Scotts Miracle-Gro Company (The) by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,392 shares of the basic materials company’s stock worth $130,000 after buying an additional 32 shares during the last quarter. Creative Planning increased its stake in Scotts Miracle-Gro Company (The) by 4.3% in the first quarter. Creative Planning now owns 1,451 shares of the basic materials company’s stock worth $135,000 after buying an additional 60 shares during the last quarter. Finally, Acrospire Investment Management LLC bought a new stake in Scotts Miracle-Gro Company (The) during the first quarter worth $149,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

Scotts Miracle-Gro Company (NYSE SMG) traded down 0.03% during mid-day trading on Friday, hitting $95.38. The stock had a trading volume of 348,225 shares. Scotts Miracle-Gro Company has a 12 month low of $78.73 and a 12 month high of $99.91. The firm’s 50-day moving average is $92.96 and its 200 day moving average is $91.66. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 25.74 and a beta of 0.40.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. Equities analysts anticipate that Scotts Miracle-Gro Company will post $4.15 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, August 23rd. This is a positive change from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. Scotts Miracle-Gro Company (The)’s payout ratio is 52.49%.

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A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. BidaskClub upgraded Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Scotts Miracle-Gro Company (The) presently has a consensus rating of “Buy” and an average target price of $101.00.

In other news, EVP Denise Stump sold 22,615 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $95.05, for a total value of $2,149,555.75. Following the completion of the sale, the executive vice president now owns 19,444 shares of the company’s stock, valued at approximately $1,848,152.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas Randal Coleman sold 13,973 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $96.14, for a total value of $1,343,364.22. Following the completion of the sale, the chief financial officer now directly owns 19,959 shares of the company’s stock, valued at approximately $1,918,858.26. The disclosure for this sale can be found here. In the last three months, insiders sold 63,487 shares of company stock valued at $6,003,697. 28.16% of the stock is currently owned by corporate insiders.

Scotts Miracle-Gro Company (The) 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.

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

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