Clearline Capital LP Has $6.33 Million Stock Position in The Scotts Miracle-Gro Company $SMG

Clearline Capital LP increased its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 520.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,454 shares of the basic materials company’s stock after acquiring an additional 90,980 shares during the quarter. Clearline Capital LP owned about 0.19% of Scotts Miracle-Gro worth $6,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elo Mutual Pension Insurance Co lifted its stake in shares of Scotts Miracle-Gro by 101.4% in the third quarter. Elo Mutual Pension Insurance Co now owns 41,408 shares of the basic materials company’s stock worth $2,358,000 after acquiring an additional 20,843 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Scotts Miracle-Gro by 21.4% in the third quarter. JPMorgan Chase & Co. now owns 155,498 shares of the basic materials company’s stock worth $8,856,000 after acquiring an additional 27,422 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Scotts Miracle-Gro by 46.6% in the fourth quarter. Sound Income Strategies LLC now owns 230,966 shares of the basic materials company’s stock worth $14,692,000 after acquiring an additional 73,455 shares during the period. SG Capital Management LLC acquired a new position in shares of Scotts Miracle-Gro in the third quarter worth approximately $3,032,000. Finally, Captrust Financial Advisors lifted its stake in shares of Scotts Miracle-Gro by 14.5% in the third quarter. Captrust Financial Advisors now owns 1,154,815 shares of the basic materials company’s stock worth $65,767,000 after acquiring an additional 146,192 shares during the period. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Down 0.7%

Shares of NYSE:SMG opened at $62.64 on Thursday. The Scotts Miracle-Gro Company has a twelve month low of $52.00 and a twelve month high of $72.35. The stock’s 50 day moving average is $61.09 and its 200-day moving average is $62.03. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 34.99 and a beta of 1.84.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.97 by $0.56. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm earned $3.98 earnings per share. Scotts Miracle-Gro’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that The Scotts Miracle-Gro Company will post 4.36 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, May 22nd. Scotts Miracle-Gro’s dividend payout ratio is presently 147.49%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SMG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scotts Miracle-Gro in a research note on Monday, May 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Scotts Miracle-Gro in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $70.00 to $67.00 in a research note on Thursday, March 26th. Stifel Nicolaus dropped their price target on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Finally, Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.67.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.