Gamco Investors INC. ET AL Continues to Hold Position in Scotts Miracle-Gro Co (SMG)
Gamco Investors INC. ET AL continued to hold its stake in Scotts Miracle-Gro Co (NYSE:SMG) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,000 shares of the basic materials company’s stock at the end of the second quarter. Gamco Investors INC. ET AL owned about 0.15% of Scotts Miracle-Gro worth $8,051,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of SMG. Comerica Bank raised its stake in Scotts Miracle-Gro by 0.4% in the second quarter. Comerica Bank now owns 34,759 shares of the basic materials company’s stock worth $3,307,000 after buying an additional 144 shares during the period. Legal & General Group Plc raised its stake in Scotts Miracle-Gro by 14.9% in the second quarter. Legal & General Group Plc now owns 44,664 shares of the basic materials company’s stock worth $3,995,000 after buying an additional 5,790 shares during the period. Bank of New York Mellon Corp raised its stake in Scotts Miracle-Gro by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 711,598 shares of the basic materials company’s stock worth $63,660,000 after buying an additional 29,782 shares during the period. SG Americas Securities LLC raised its stake in Scotts Miracle-Gro by 36.0% in the second quarter. SG Americas Securities LLC now owns 15,775 shares of the basic materials company’s stock worth $1,411,000 after buying an additional 4,172 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Scotts Miracle-Gro by 16.7% in the second quarter. Advisors Asset Management Inc. now owns 21,703 shares of the basic materials company’s stock worth $1,942,000 after buying an additional 3,108 shares during the period. Institutional investors and hedge funds own 66.16% of the company’s stock.
Scotts Miracle-Gro Co (NYSE:SMG) opened at 95.47 on Wednesday. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 25.76 and a beta of 0.40. Scotts Miracle-Gro Co has a 12 month low of $78.73 and a 12 month high of $99.91. The company has a 50-day moving average price of $94.30 and a 200 day moving average price of $91.76.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $2.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.51 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Scotts Miracle-Gro had a net margin of 14.09% and a return on equity of 86.46%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. Equities analysts predict that Scotts Miracle-Gro Co will post $4.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Wednesday, August 23rd. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.50. Scotts Miracle-Gro’s dividend payout ratio is 52.49%.
A number of research firms have recently issued reports on SMG. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. BidaskClub upgraded Scotts Miracle-Gro 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 issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $101.00.
In related news, EVP Denise Stump sold 22,615 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were 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 in the company, valued at approximately $1,848,152.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael C. Lukemire sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $96.14, for a total transaction of $1,730,520.00. Following the completion of the sale, the insider now owns 23,969 shares of the company’s stock, valued at approximately $2,304,379.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 190,859 shares of company stock valued at $18,326,133. 28.16% of the stock is owned by insiders.
About Scotts Miracle-Gro
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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