Clarus Wealth Advisors Purchases New Position in Scotts Miracle-Gro Co (SMG)

Clarus Wealth Advisors purchased a new position in shares of Scotts Miracle-Gro Co (NYSE:SMG) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,002 shares of the basic materials company’s stock, valued at approximately $62,000.

Several other institutional investors have also modified their holdings of SMG. Renaissance Technologies LLC purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth $36,767,000. Deutsche Bank AG lifted its stake in shares of Scotts Miracle-Gro by 446.9% during the 3rd quarter. Deutsche Bank AG now owns 382,827 shares of the basic materials company’s stock worth $30,136,000 after purchasing an additional 312,828 shares during the period. Deprince Race & Zollo Inc. purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth $18,377,000. ETF Managers Group LLC purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter worth $10,158,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Scotts Miracle-Gro by 25.3% during the 3rd quarter. Wells Fargo & Company MN now owns 663,861 shares of the basic materials company’s stock worth $52,266,000 after purchasing an additional 133,968 shares during the period. 65.92% of the stock is currently owned by institutional investors.

In related news, Director Katherine Littlefield Hagedorn sold 2,665 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $74.07, for a total value of $197,396.55. Following the completion of the sale, the director now directly owns 4,035 shares in the company, valued at approximately $298,872.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 50,000 shares of the stock in a transaction on Monday, January 14th. The shares were sold at an average price of $68.27, for a total value of $3,413,500.00. Following the completion of the sale, the insider now owns 15,602,150 shares of the company’s stock, valued at $1,065,158,780.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,821 shares of company stock valued at $4,319,988. Insiders own 30.37% of the company’s stock.

A number of brokerages have weighed in on SMG. Zacks Investment Research raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, January 8th. ValuEngine raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. JPMorgan Chase & Co. raised Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price target on the stock in a research note on Thursday, January 31st. Raymond James upgraded Scotts Miracle-Gro from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a report on Monday, December 17th. Finally, Bank of America upgraded Scotts Miracle-Gro from an “underperform” rating to a “neutral” rating and set a $72.00 price objective for the company in a report on Wednesday, October 24th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Scotts Miracle-Gro currently has a consensus rating of “Buy” and a consensus target price of $76.40.

SMG stock opened at $77.63 on Thursday. The firm has a market cap of $4.24 billion, a PE ratio of 20.92, a PEG ratio of 1.86 and a beta of 0.86. The company has a debt-to-equity ratio of 8.63, a current ratio of 1.81 and a quick ratio of 0.56. Scotts Miracle-Gro Co has a 52 week low of $57.96 and a 52 week high of $93.00.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, January 30th. The basic materials company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.15). The firm had revenue of $298.10 million for the quarter, compared to analyst estimates of $287.24 million. Scotts Miracle-Gro had a return on equity of 47.98% and a net margin of 0.19%. The company’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.08) earnings per share. On average, analysts forecast that Scotts Miracle-Gro Co will post 4.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 22nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.83%. Scotts Miracle-Gro’s payout ratio is 59.30%.

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Scotts Miracle-Gro Profile

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internatonally. 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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