Stonebridge Capital Management Inc. purchased a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the first quarter, Holdings Channel reports. The institutional investor purchased 1,000 shares of the basic materials company’s stock, valued at approximately $245,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC increased its position in The Scotts Miracle-Gro by 15.8% in the fourth quarter. Capital Asset Advisory Services LLC now owns 5,923 shares of the basic materials company’s stock worth $1,180,000 after buying an additional 806 shares during the last quarter. Janney Montgomery Scott LLC increased its position in The Scotts Miracle-Gro by 2.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 99,471 shares of the basic materials company’s stock worth $19,809,000 after buying an additional 2,153 shares during the last quarter. Assetmark Inc. increased its position in The Scotts Miracle-Gro by 12.6% in the fourth quarter. Assetmark Inc. now owns 3,466 shares of the basic materials company’s stock worth $690,000 after buying an additional 387 shares during the last quarter. Wells Fargo & Company MN increased its position in The Scotts Miracle-Gro by 6.0% in the fourth quarter. Wells Fargo & Company MN now owns 830,766 shares of the basic materials company’s stock worth $165,438,000 after buying an additional 46,945 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new stake in The Scotts Miracle-Gro in the fourth quarter worth $1,912,000. 63.07% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the company. Raymond James lifted their price target on The Scotts Miracle-Gro from $274.00 to $290.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 4th. William Blair reiterated an “outperform” rating on shares of The Scotts Miracle-Gro in a research report on Wednesday, February 3rd. Truist lifted their price target on The Scotts Miracle-Gro from $180.00 to $250.00 in a research report on Thursday, January 7th. Finally, Truist Financial lifted their price target on The Scotts Miracle-Gro from $250.00 to $270.00 in a research report on Thursday, February 4th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The Scotts Miracle-Gro presently has an average rating of “Buy” and a consensus price target of $228.00.

SMG stock traded up $2.66 during mid-day trading on Thursday, hitting $250.51. 1,066 shares of the stock were exchanged, compared to its average volume of 412,204. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.28 and a quick ratio of 0.63. The business has a fifty day moving average price of $228.46 and a 200 day moving average price of $197.61. The Scotts Miracle-Gro Company has a 12 month low of $101.27 and a 12 month high of $254.34. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 36.40 and a beta of 1.13.

The Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Tuesday, February 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $1.12. The Scotts Miracle-Gro had a return on equity of 52.60% and a net margin of 9.38%. The firm had revenue of $748.60 million during the quarter, compared to analyst estimates of $623.98 million. During the same quarter in the previous year, the company posted ($1.12) earnings per share. The company’s revenue was up 104.6% compared to the same quarter last year. As a group, equities analysts forecast that The Scotts Miracle-Gro Company will post 8.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 24th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, February 23rd. The Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 34.25%.

In other news, COO Michael C. Lukemire sold 57,310 shares of the business’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $237.87, for a total value of $13,632,329.70. Following the completion of the sale, the chief operating officer now owns 29,636 shares of the company’s stock, valued at approximately $7,049,515.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter E. Shumlin sold 1,500 shares of the business’s stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $232.56, for a total value of $348,840.00. Following the completion of the sale, the director now directly owns 8,659 shares of the company’s stock, valued at approximately $2,013,737.04. The disclosure for this sale can be found here. In the last three months, insiders sold 82,784 shares of company stock valued at $19,619,256. 27.17% of the stock is currently owned by corporate insiders.

The Scotts Miracle-Gro Profile

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as 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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Institutional Ownership by Quarter for The Scotts Miracle-Gro (NYSE:SMG)

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