New Mexico Educational Retirement Board Trims Stake in Scotts Miracle-Gro Co (SMG)

New Mexico Educational Retirement Board reduced its stake in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 19.5% in the second quarter, HoldingsChannel.com reports. The fund owned 9,100 shares of the basic materials company’s stock after selling 2,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Scotts Miracle-Gro were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its position in shares of Scotts Miracle-Gro by 14.4% during the 2nd quarter. Fisher Asset Management LLC now owns 1,506,427 shares of the basic materials company’s stock valued at $125,274,000 after acquiring an additional 189,193 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Scotts Miracle-Gro by 42.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,498,720 shares of the basic materials company’s stock valued at $128,516,000 after acquiring an additional 442,933 shares during the period. Neuberger Berman Group LLC grew its position in shares of Scotts Miracle-Gro by 4.6% during the 1st quarter. Neuberger Berman Group LLC now owns 853,502 shares of the basic materials company’s stock valued at $73,202,000 after acquiring an additional 37,655 shares during the period. Northern Trust Corp lifted its stake in shares of Scotts Miracle-Gro by 0.8% during the 1st quarter. Northern Trust Corp now owns 667,682 shares of the basic materials company’s stock valued at $57,253,000 after buying an additional 5,626 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Scotts Miracle-Gro by 15.4% during the 1st quarter. Handelsbanken Fonder AB now owns 600,000 shares of the basic materials company’s stock valued at $51,450,000 after buying an additional 80,000 shares in the last quarter. 66.45% of the stock is owned by hedge funds and other institutional investors.

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 44,793 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $77.76, for a total value of $3,483,103.68. Following the sale, the insider now directly owns 15,652,099 shares in the company, valued at approximately $1,217,107,218.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katherine Littlefield Hagedorn sold 14,947 shares of the stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $86.04, for a total transaction of $1,286,039.88. Following the completion of the sale, the director now owns 6,511 shares in the company, valued at $560,206.44. The disclosure for this sale can be found here. Insiders sold a total of 203,358 shares of company stock worth $16,588,400 over the last quarter. Corporate insiders own 29.14% of the company’s stock.



Shares of SMG stock opened at $73.71 on Wednesday. The company has a market cap of $4.18 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 2.91 and a beta of 0.23. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.99 and a current ratio of 1.60. Scotts Miracle-Gro Co has a 12 month low of $72.79 and a 12 month high of $110.12.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $2.67 EPS for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.12. The company had revenue of $994.60 million for the quarter, compared to analysts’ expectations of $996.40 million. Scotts Miracle-Gro had a net margin of 6.80% and a return on equity of 43.37%. During the same period in the prior year, the company posted $2.57 EPS. research analysts forecast that Scotts Miracle-Gro Co will post 3.8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Monday, August 27th will be paid a $0.55 dividend. The ex-dividend date is Friday, August 24th. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a yield of 2.98%. Scotts Miracle-Gro’s dividend payout ratio is currently 53.81%.

A number of analysts recently commented on SMG shares. Bank of America cut shares of Scotts Miracle-Gro from a “buy” rating to an “underperform” rating and set a $110.00 price target on the stock. in a research note on Wednesday, May 2nd. SunTrust Banks dropped their price target on shares of Scotts Miracle-Gro to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, April 18th. JPMorgan Chase & Co. cut shares of Scotts Miracle-Gro from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $95.00 to $85.00 in a research note on Friday, June 1st. Raymond James cut shares of Scotts Miracle-Gro from a “market perform” rating to an “underperform” rating in a research note on Wednesday, June 20th. Finally, Zacks Investment Research cut shares of Scotts Miracle-Gro from a “buy” rating to a “sell” rating in a research note on Tuesday, April 17th. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Sell” and an average price target of $89.25.

Scotts Miracle-Gro Profile

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

Read More: Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding SMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scotts Miracle-Gro Co (NYSE:SMG).

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

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