MBM Wealth Consultants LLC Purchases Shares of 500 The Scotts Miracle-Gro Company (NYSE:SMG)

MBM Wealth Consultants LLC purchased a new stake in The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 500 shares of the basic materials company’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SMG. Dimensional Fund Advisors LP increased its position in shares of Scotts Miracle-Gro by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 497,927 shares of the basic materials company’s stock valued at $80,159,000 after acquiring an additional 5,459 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Scotts Miracle-Gro by 147.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 10,245 shares of the basic materials company’s stock valued at $1,649,000 after acquiring an additional 6,099 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Scotts Miracle-Gro by 19.4% in the fourth quarter. HighTower Advisors LLC now owns 20,893 shares of the basic materials company’s stock valued at $3,363,000 after acquiring an additional 3,392 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Scotts Miracle-Gro by 19.1% in the fourth quarter. Teacher Retirement System of Texas now owns 8,023 shares of the basic materials company’s stock valued at $1,292,000 after acquiring an additional 1,287 shares during the last quarter. Finally, Confluence Wealth Services Inc. acquired a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at about $26,000. Institutional investors and hedge funds own 66.81% of the company’s stock.

Scotts Miracle-Gro Trading Up 0.2 %

Shares of NYSE:SMG opened at $57.90 on Friday. The Scotts Miracle-Gro Company has a 12-month low of $55.19 and a 12-month high of $180.43. The stock has a market cap of $3.21 billion, a PE ratio of -11.99 and a beta of 1.30. The business has a 50 day moving average of $77.67 and a 200-day moving average of $96.70. The company has a quick ratio of 1.10, a current ratio of 2.42 and a debt-to-equity ratio of 7.55.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.28. Scotts Miracle-Gro had a positive return on equity of 36.80% and a negative net margin of 6.36%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company posted $3.98 earnings per share. The business’s revenue was down 26.3% on a year-over-year basis. As a group, equities research analysts forecast that The Scotts Miracle-Gro Company will post 4.11 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 26th were given a $0.66 dividend. The ex-dividend date was Thursday, August 25th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.56%. Scotts Miracle-Gro’s payout ratio is -54.66%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SMG. TheStreet downgraded Scotts Miracle-Gro from a “c” rating to a “d+” rating in a research report on Wednesday, August 3rd. Wells Fargo & Company reduced their price target on Scotts Miracle-Gro from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, September 1st. UBS Group reduced their price target on Scotts Miracle-Gro from $92.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, August 3rd. Truist Financial cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating and reduced their price target for the stock from $185.00 to $85.00 in a report on Wednesday, June 8th. Finally, Raymond James reduced their price target on Scotts Miracle-Gro from $110.00 to $100.00 and set a “strong-buy” rating for the company in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.00.

Scotts Miracle-Gro Profile

(Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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

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