Bbva Compass Bancshares Inc. Boosts Stake in Scotts Miracle-Gro Company (The) (SMG)

Bbva Compass Bancshares Inc. boosted its stake in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) by 14.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,319 shares of the basic materials company’s stock after buying an additional 2,855 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Scotts Miracle-Gro Company (The) were worth $1,997,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Great West Life Assurance Co. Can increased its position in shares of Scotts Miracle-Gro Company (The) by 1.2% in the second quarter. Great West Life Assurance Co. Can now owns 34,794 shares of the basic materials company’s stock valued at $3,110,000 after buying an additional 401 shares during the period. Alpha Cubed Investments LLC increased its position in shares of Scotts Miracle-Gro Company (The) by 248.9% in the second quarter. Alpha Cubed Investments LLC now owns 19,241 shares of the basic materials company’s stock valued at $1,721,000 after buying an additional 13,727 shares during the period. NGAM Advisors L.P. increased its position in shares of Scotts Miracle-Gro Company (The) by 3.6% in the second quarter. NGAM Advisors L.P. now owns 93,681 shares of the basic materials company’s stock valued at $8,381,000 after buying an additional 3,298 shares during the period. Boston Financial Mangement LLC increased its position in shares of Scotts Miracle-Gro Company (The) by 14.8% in the second quarter. Boston Financial Mangement LLC now owns 53,850 shares of the basic materials company’s stock valued at $4,817,000 after buying an additional 6,954 shares during the period. Finally, Cheyne Capital Management UK LLP purchased a new position in shares of Scotts Miracle-Gro Company (The) during the second quarter valued at approximately $2,504,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

Shares of Scotts Miracle-Gro Company (NYSE:SMG) traded down 0.03% during trading on Friday, hitting $95.38. 348,279 shares of the company traded hands. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 25.74 and a beta of 0.40. The company has a 50 day moving average price of $93.16 and a 200 day moving average price of $91.67. Scotts Miracle-Gro Company has a 52 week low of $78.73 and a 52 week high of $99.91.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Scotts Miracle-Gro Company (The) had a net margin of 7.85% and a return on equity of 36.28%. Scotts Miracle-Gro Company (The)’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.16 earnings per share. On average, analysts expect that Scotts Miracle-Gro Company will post $4.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, August 23rd. This is a boost from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. Scotts Miracle-Gro Company (The)’s dividend payout ratio is currently 52.49%.

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Several brokerages have recently commented on SMG. Zacks Investment Research raised shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. BidaskClub raised shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $101.00.

In related news, EVP Ivan C. Smith sold 3,787 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $87.84, for a total value of $332,650.08. Following the sale, the executive vice president now owns 18,849 shares of the company’s stock, valued at $1,655,696.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Denise Stump sold 22,615 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $95.05, for a total transaction of $2,149,555.75. Following the completion of the transaction, the executive vice president now owns 19,444 shares in the company, valued at $1,848,152.20. The disclosure for this sale can be found here. Insiders have sold 63,487 shares of company stock worth $6,003,697 in the last three months. Corporate insiders own 28.16% of the company’s stock.

Scotts Miracle-Gro Company (The) Company Profile

The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.

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

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