Quantitative Systematic Strategies LLC Makes New $329,000 Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

Quantitative Systematic Strategies LLC purchased a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,154 shares of the basic materials company’s stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SMG. Gilder Gagnon Howe & Co. LLC bought a new position in shares of The Scotts Miracle-Gro in the second quarter worth approximately $46,955,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of The Scotts Miracle-Gro by 11.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,271,995 shares of the basic materials company’s stock worth $437,868,000 after acquiring an additional 347,094 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of The Scotts Miracle-Gro by 4.3% during the second quarter. Vanguard Group Inc. now owns 4,758,410 shares of the basic materials company’s stock worth $639,863,000 after acquiring an additional 194,885 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of The Scotts Miracle-Gro by 817.0% during the second quarter. Victory Capital Management Inc. now owns 131,307 shares of the basic materials company’s stock worth $17,657,000 after acquiring an additional 116,988 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of The Scotts Miracle-Gro by 27.2% during the second quarter. Federated Hermes Inc. now owns 511,443 shares of the basic materials company’s stock worth $68,774,000 after acquiring an additional 109,425 shares during the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

SMG has been the subject of a number of research reports. ValuEngine lowered shares of The Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, November 10th. Raymond James reiterated a “hold” rating on shares of The Scotts Miracle-Gro in a research report on Thursday, August 6th. Berenberg Bank upgraded shares of The Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a research report on Thursday, November 12th. Zacks Investment Research lowered shares of The Scotts Miracle-Gro from a “buy” rating to a “hold” rating and set a $178.00 price objective for the company. in a research report on Tuesday. Finally, SunTrust Banks increased their price objective on shares of The Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $165.00.

SMG stock opened at $169.33 on Friday. The Scotts Miracle-Gro Company has a 52 week low of $76.50 and a 52 week high of $179.97. The company has a quick ratio of 1.16, a current ratio of 1.61 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $161.09 and a two-hundred day simple moving average of $150.92. The firm has a market capitalization of $9.44 billion, a P/E ratio of 29.71 and a beta of 1.08.

The Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, November 4th. The basic materials company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). The Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The firm had revenue of $890.30 million during the quarter, compared to analysts’ expectations of $886.23 million. During the same period in the prior year, the company posted ($0.91) EPS. The company’s revenue was up 78.9% compared to the same quarter last year. As a group, analysts anticipate that The Scotts Miracle-Gro Company will post 7.26 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 30th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, November 27th. The Scotts Miracle-Gro’s dividend payout ratio is currently 55.48%.

The Scotts Miracle-Gro Company 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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