Ontario Teachers Pension Plan Board reduced its stake in Scotts Miracle-Gro Co (NYSE:SMG) by 61.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 10,772 shares of the basic materials company’s stock after selling 17,123 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Scotts Miracle-Gro were worth $848,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of SMG. FIL Ltd lifted its holdings in shares of Scotts Miracle-Gro by 32.8% in the third quarter. FIL Ltd now owns 400,291 shares of the basic materials company’s stock worth $31,515,000 after buying an additional 98,757 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of Scotts Miracle-Gro by 149.2% in the third quarter. Wesbanco Bank Inc. now owns 23,831 shares of the basic materials company’s stock worth $1,876,000 after buying an additional 14,268 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Scotts Miracle-Gro by 2.6% in the third quarter. American International Group Inc. now owns 80,141 shares of the basic materials company’s stock worth $6,310,000 after buying an additional 2,003 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Scotts Miracle-Gro by 1.8% in the third quarter. BlackRock Inc. now owns 3,566,422 shares of the basic materials company’s stock worth $280,783,000 after buying an additional 61,817 shares in the last quarter. Finally, Commonwealth Bank of Australia purchased a new stake in shares of Scotts Miracle-Gro in the third quarter worth about $314,000. 63.73% of the stock is currently owned by institutional investors.
In related news, Director Nancy G. Mistretta sold 6,300 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $76.93, for a total value of $484,659.00. Following the transaction, the director now directly owns 20,824 shares in the company, valued at $1,601,990.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.14% of the stock is currently owned by corporate insiders.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, November 7th. The basic materials company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.08). The company had revenue of $434.00 million during the quarter, compared to the consensus estimate of $441.10 million. Scotts Miracle-Gro had a return on equity of 44.65% and a net margin of 2.39%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.26) earnings per share. As a group, sell-side analysts predict that Scotts Miracle-Gro Co will post 4.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 26th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Friday, November 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 59.30%.
Several research analysts recently weighed in on SMG shares. ValuEngine cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Bank of America set a $74.00 price objective on shares of Scotts Miracle-Gro and gave the stock a “sell” rating in a research report on Monday, August 13th. JPMorgan Chase & Co. decreased their price objective on shares of Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, August 24th. Finally, Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Scotts Miracle-Gro currently has an average rating of “Hold” and an average target price of $85.00.
About Scotts Miracle-Gro
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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