Ridgewood Investments LLC Has $730,000 Stake in Scotts Miracle-Gro Co (SMG)

Ridgewood Investments LLC lifted its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 25.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,270 shares of the basic materials company’s stock after purchasing an additional 1,853 shares during the quarter. Ridgewood Investments LLC’s holdings in Scotts Miracle-Gro were worth $730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at approximately $112,000. Atria Investments LLC purchased a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at approximately $211,000. Outfitter Advisors LTD. purchased a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at approximately $223,000. Stephens Inc. AR purchased a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at approximately $256,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Scotts Miracle-Gro during the 1st quarter valued at approximately $306,000. 65.03% of the stock is currently owned by institutional investors and hedge funds.

In other news, major shareholder Hagedorn Partnership, L.P. sold 44,793 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $77.76, for a total transaction of $3,483,103.68. Following the transaction, the insider now owns 15,652,099 shares in the company, valued at approximately $1,217,107,218.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Katherine Littlefield Hagedorn sold 40,329 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $77.76, for a total value of $3,135,983.04. Following the transaction, the director now owns 6,511 shares in the company, valued at approximately $506,295.36. The disclosure for this sale can be found here. Insiders sold a total of 91,422 shares of company stock worth $7,103,746 in the last 90 days. 29.14% of the stock is currently owned by insiders.



SMG stock traded up $1.77 during midday trading on Tuesday, reaching $67.89. The stock had a trading volume of 22,471 shares, compared to its average volume of 438,613. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.99 and a current ratio of 1.60. The firm has a market capitalization of $3.73 billion, a P/E ratio of 17.22, a PEG ratio of 3.58 and a beta of 0.22. Scotts Miracle-Gro Co has a 52-week low of $65.20 and a 52-week high of $110.12.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.12. The company had revenue of $994.60 million for the quarter, compared to analyst estimates of $996.40 million. Scotts Miracle-Gro had a return on equity of 43.37% and a net margin of 6.80%. During the same quarter last year, the firm posted $2.57 EPS. On average, equities analysts forecast that Scotts Miracle-Gro Co will post 3.77 earnings per share for the current year.

A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Bank of America upgraded Scotts Miracle-Gro from an “underperform” rating to a “neutral” rating and set a $72.00 target price on the stock in a research report on Wednesday, October 24th. They noted that the move was a valuation call. ValuEngine lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating on the stock in a report on Friday, August 24th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $85.00.

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.

Featured Article: Institutional Investors

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

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