The Scotts Miracle-Gro Company (NYSE:SMG) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMGFree Report) by 3.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,000 shares of the basic materials company’s stock after buying an additional 250 shares during the period. Pinnacle Associates Ltd.’s holdings in Scotts Miracle-Gro were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. increased its stake in shares of Scotts Miracle-Gro by 146.1% in the second quarter. Benjamin Edwards Inc. now owns 406 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 241 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Scotts Miracle-Gro in the first quarter valued at approximately $27,000. Resources Management Corp CT ADV increased its stake in shares of Scotts Miracle-Gro by 2,025.0% in the second quarter. Resources Management Corp CT ADV now owns 425 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 405 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $47,000. Finally, First Manhattan Co. increased its stake in shares of Scotts Miracle-Gro by 29.9% in the fourth quarter. First Manhattan Co. now owns 987 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Stephen L. Johnson sold 1,394 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total transaction of $79,945.90. Following the completion of the sale, the director now directly owns 22,918 shares in the company, valued at $1,314,347.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Stephen L. Johnson sold 1,394 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total transaction of $79,945.90. Following the completion of the sale, the director now directly owns 22,918 shares in the company, valued at $1,314,347.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $58.40, for a total transaction of $876,000.00. Following the completion of the transaction, the insider now directly owns 13,881,368 shares of the company’s stock, valued at approximately $810,671,891.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,750 shares of company stock worth $6,604,492. Corporate insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Price Performance

NYSE SMG opened at $74.31 on Thursday. The Scotts Miracle-Gro Company has a 12 month low of $43.67 and a 12 month high of $78.25. The firm has a market capitalization of $4.21 billion, a PE ratio of -10.56 and a beta of 1.70. The company’s 50 day simple moving average is $63.53 and its 200 day simple moving average is $58.10.

Scotts Miracle-Gro (NYSE:SMGGet Free Report) last issued its earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.62) by $0.17. The firm had revenue of $410.40 million during the quarter, compared to analysts’ expectations of $412.83 million. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same period last year, the firm posted ($1.02) earnings per share. Sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 2.65 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, February 22nd. Scotts Miracle-Gro’s payout ratio is -37.50%.

Wall Street Analysts Forecast Growth

SMG has been the topic of several analyst reports. Raymond James restated a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. StockNews.com lowered shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. Finally, Stifel Nicolaus raised their price objective on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $69.29.

Get Our Latest Stock Analysis on SMG

Scotts Miracle-Gro Profile

(Free Report)

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.

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

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