First Trust Advisors LP Increases Stock Holdings in Scotts Miracle-Gro Co (NYSE:SMG)

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First Trust Advisors LP boosted its position in Scotts Miracle-Gro Co (NYSE:SMG) by 98.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,477 shares of the basic materials company’s stock after acquiring an additional 57,660 shares during the quarter. First Trust Advisors LP’s holdings in Scotts Miracle-Gro were worth $12,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of SMG. Optimum Investment Advisors acquired a new position in Scotts Miracle-Gro in the third quarter valued at $25,000. Whittier Trust Co. acquired a new position in shares of Scotts Miracle-Gro during the third quarter worth about $30,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Scotts Miracle-Gro during the third quarter worth about $31,000. S.A. Mason LLC acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter worth about $32,000. Finally, Winslow Evans & Crocker Inc. lifted its stake in shares of Scotts Miracle-Gro by 32.6% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 586 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Shares of SMG opened at $121.52 on Friday. The stock’s 50-day moving average is $112.80 and its two-hundred day moving average is $106.10. The stock has a market cap of $6.72 billion, a PE ratio of 14.59, a P/E/G ratio of 2.41 and a beta of 0.79. Scotts Miracle-Gro Co has a 12 month low of $75.91 and a 12 month high of $125.26. The company has a debt-to-equity ratio of 3.13, a current ratio of 2.19 and a quick ratio of 0.77.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, January 29th. The basic materials company reported ($1.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.12. Scotts Miracle-Gro had a return on equity of 38.31% and a net margin of 14.54%. The company had revenue of $365.80 million for the quarter, compared to analysts’ expectations of $345.32 million. During the same quarter in the previous year, the firm posted ($1.39) earnings per share. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. On average, research analysts anticipate that Scotts Miracle-Gro Co will post 5.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 25th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, February 24th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 51.90%.

In related news, Director Adam Hanft sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $115.00, for a total value of $575,000.00. Following the transaction, the director now owns 28,403 shares in the company, valued at $3,266,345. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 28.20% of the company’s stock.

A number of research analysts have commented on SMG shares. Berenberg Bank started coverage on Scotts Miracle-Gro in a research note on Wednesday, January 15th. They set a “hold” rating and a $99.00 price objective on the stock. ValuEngine upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Bank of America upgraded Scotts Miracle-Gro from a “neutral” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Scotts Miracle-Gro from $103.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Scotts Miracle-Gro presently has an average rating of “Hold” and a consensus target price of $106.02.

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 Scotts Miracle-Gro (NYSE:SMG)

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