Financial Gravity Asset Management Inc. has been actively expanding its portfolio with strategic investments in various companies. The latest additions to its holdings include shares in Stanley Black & Decker, Inc. and The Scotts Miracle-Gro Company.
According to a recent 13F filing with the SEC, Financial Gravity acquired an additional 14,513 shares of Stanley Black & Decker during the third quarter, bringing its total position to 15,399 shares worth approximately $1.41 million [bd67838f]. Stanley Black & Decker operates in the tools and storage and industrial businesses, offering a range of professional and consumer products in multiple regions [bd67838f].
Financial Gravity also raised its position in The Scotts Miracle-Gro Company by 2,810.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired an additional 302,776 shares of Scotts Miracle-Gro, bringing its total holdings to 313,548 shares worth $16,204,000 [9dfeb7dc].
These acquisitions by Financial Gravity Asset Management Inc. reflect the firm's confidence in the growth potential of Stanley Black & Decker, Inc. and The Scotts Miracle-Gro Company, as well as their respective industries. Stanley Black & Decker, Inc. operates in the tools and storage and industrial businesses, while The Scotts Miracle-Gro Company is a basic materials company. Both companies offer a range of products and have attracted the attention of other hedge funds and institutional investors [bd67838f] [9dfeb7dc].
In related news, Virtu Financial LLC, another hedge fund, has reduced its stake in Stanley Black & Decker, Inc. by 53.0% in the fourth quarter. Virtu Financial sold 9,878 shares, bringing its total ownership to 8,772 shares worth $860,000. Other hedge funds have also recently adjusted their positions in Stanley Black & Decker, Inc. [f24222d8].
Stanley Black & Decker, Inc. had a positive return on equity of 3.95% and a negative net margin of 0.66%. The company's quarterly revenue was down 1.6% on a year-over-year basis. Stanley Black & Decker will pay a quarterly dividend of $0.81 on June 18th to shareholders of record on June 4th. The ex-dividend date is also June 4th [f24222d8].