M&T Bank Corp lowered its position in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 15.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,824 shares of the basic materials company’s stock after selling 3,263 shares during the period. M&T Bank Corp’s holdings in Scotts Miracle-Gro Company (The) were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FNY Managed Accounts LLC bought a new stake in Scotts Miracle-Gro Company (The) in the first quarter worth about $103,000. Almanack Investment Partners LLC. purchased a new position in shares of Scotts Miracle-Gro Company (The) during the second quarter worth approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Scotts Miracle-Gro Company (The) by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 116 shares during the period. Delta Asset Management LLC TN increased its position in shares of Scotts Miracle-Gro Company (The) by 3.8% during the second quarter. Delta Asset Management LLC TN now owns 2,025 shares of the basic materials company’s stock worth $181,000 after acquiring an additional 75 shares during the period. Finally, Creative Planning increased its position in shares of Scotts Miracle-Gro Company (The) by 44.5% during the second quarter. Creative Planning now owns 2,097 shares of the basic materials company’s stock worth $188,000 after acquiring an additional 646 shares during the period. 69.02% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company (NYSE:SMG) opened at 97.34 on Friday. Scotts Miracle-Gro Company has a 12 month low of $81.48 and a 12 month high of $99.91. The stock’s 50 day moving average is $95.14 and its 200-day moving average is $92.14. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 26.27 and a beta of 0.39.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a net margin of 7.85% and a return on equity of 36.28%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $2.16 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities research analysts expect that Scotts Miracle-Gro Company will post $4.09 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were issued a $0.53 dividend. This is a positive change from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Wednesday, August 23rd. Scotts Miracle-Gro Company (The)’s dividend payout ratio is currently 55.64%.

In other news, CFO Thomas Randal Coleman sold 13,973 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 value of $1,343,364.22. Following the transaction, the chief financial officer now directly owns 19,959 shares in the company, valued at approximately $1,918,858.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Denise Stump sold 22,615 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $95.05, for a total transaction of $2,149,555.75. Following the completion of the transaction, the executive vice president now owns 19,444 shares in the company, valued at $1,848,152.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,859 shares of company stock worth $24,364,693. Company insiders own 28.16% of the company’s stock.

SMG has been the topic of a number of research reports. BidaskClub raised shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research report on Monday, August 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $101.00.

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Scotts Miracle-Gro Company (The) 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.

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

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