Entropy Technologies LP cut its holdings in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 28.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,495 shares of the basic materials company's stock after selling 9,182 shares during the quarter. Entropy Technologies LP's holdings in Scotts Miracle-Gro were worth $2,037,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Scotts Miracle-Gro by 1.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,201,683 shares of the basic materials company's stock valued at $338,421,000 after purchasing an additional 49,262 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Scotts Miracle-Gro by 1.4% during the second quarter. Earnest Partners LLC now owns 3,155,653 shares of the basic materials company's stock worth $205,307,000 after buying an additional 42,500 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Scotts Miracle-Gro by 24.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,726,338 shares of the basic materials company's stock valued at $203,359,000 after acquiring an additional 542,406 shares in the last quarter. Millennium Management LLC grew its position in Scotts Miracle-Gro by 6.8% during the 2nd quarter. Millennium Management LLC now owns 815,371 shares of the basic materials company's stock worth $53,048,000 after acquiring an additional 52,136 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Scotts Miracle-Gro by 194.2% in the 2nd 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. Institutional investors own 74.07% of the company's stock.
Insider Buying and Selling
In related news, COO Nathan Eric Baxter sold 2,988 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $211,938.84. Following the completion of the sale, the chief operating officer now owns 37,920 shares in the company, valued at approximately $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares of the company's stock, valued at $965,232,321.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Nathan Eric Baxter sold 2,988 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $211,938.84. Following the completion of the transaction, the chief operating officer now directly owns 37,920 shares of the company's stock, valued at approximately $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.46% of the stock is owned by insiders.
Scotts Miracle-Gro Price Performance
Shares of NYSE SMG traded down $0.26 during midday trading on Wednesday, reaching $73.32. The company's stock had a trading volume of 322,139 shares, compared to its average volume of 815,502. The firm has a 50 day moving average price of $81.00 and a 200-day moving average price of $72.57. The Scotts Miracle-Gro Company has a 12-month low of $51.60 and a 12-month high of $93.90.
Scotts Miracle-Gro Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro's payout ratio is -382.61%.
Analyst Upgrades and Downgrades
SMG has been the topic of several research reports. Stifel Nicolaus boosted their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a "hold" rating in a report on Monday, November 4th. UBS Group decreased their price target on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price target on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Finally, Truist Financial reduced their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating for the company in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Scotts Miracle-Gro presently has an average rating of "Hold" and an average price target of $78.60.
Check Out Our Latest Research Report on SMG
About Scotts Miracle-Gro
(
Free Report)
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.
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