Algert Global LLC Acquires 16,821 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Algert Global LLC grew its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 202.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,140 shares of the basic materials company's stock after acquiring an additional 16,821 shares during the quarter. Algert Global LLC's holdings in Scotts Miracle-Gro were worth $2,180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Scientech Research LLC acquired a new stake in Scotts Miracle-Gro during the second quarter worth $866,000. Retirement Systems of Alabama boosted its position in shares of Scotts Miracle-Gro by 309.5% during the 2nd quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company's stock valued at $14,035,000 after acquiring an additional 163,037 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in Scotts Miracle-Gro by 2.2% in the second quarter. Deprince Race & Zollo Inc. now owns 672,556 shares of the basic materials company's stock worth $43,756,000 after purchasing an additional 14,533 shares in the last quarter. AQR Capital Management LLC raised its position in Scotts Miracle-Gro by 194.2% in the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company's stock worth $49,515,000 after purchasing an additional 502,353 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its stake in Scotts Miracle-Gro by 12.0% during the second quarter. Simplicity Wealth LLC now owns 71,412 shares of the basic materials company's stock worth $4,646,000 after purchasing an additional 7,644 shares during the period. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Stock Down 2.6 %

NYSE:SMG traded down $2.03 during mid-day trading on Wednesday, reaching $75.77. 678,593 shares of the company were exchanged, compared to its average volume of 815,950. The Scotts Miracle-Gro Company has a 12 month low of $53.43 and a 12 month high of $93.90. The stock has a market cap of $4.31 billion, a PE ratio of -109.64 and a beta of 1.76. The company has a fifty day moving average of $82.49 and a 200 day moving average of $73.08.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro's dividend payout ratio is -382.61%.

Analysts Set New Price Targets

SMG has been the subject of a number of recent research reports. Stifel Nicolaus increased their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Wells Fargo & Company dropped their price objective on Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Truist Financial lowered their target price on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. cut their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Finally, UBS Group decreased their price objective on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $78.60.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.