International Assets Investment Management LLC Lowers Position in The Scotts Miracle-Gro Company (NYSE:SMG)

International Assets Investment Management LLC trimmed its stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 98.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,461 shares of the basic materials company's stock after selling 278,024 shares during the quarter. International Assets Investment Management LLC's holdings in Scotts Miracle-Gro were worth $227,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB grew its position in Scotts Miracle-Gro by 4.6% during the 4th quarter. Nordea Investment Management AB now owns 219,532 shares of the basic materials company's stock valued at $14,439,000 after purchasing an additional 9,684 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Scotts Miracle-Gro by 112.8% during the fourth quarter. GAMMA Investing LLC now owns 1,226 shares of the basic materials company's stock valued at $81,000 after buying an additional 650 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Scotts Miracle-Gro by 13.9% during the third quarter. Franklin Resources Inc. now owns 58,918 shares of the basic materials company's stock valued at $5,171,000 after buying an additional 7,206 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Scotts Miracle-Gro during the third quarter valued at approximately $44,000. Finally, Anchor Investment Management LLC raised its holdings in Scotts Miracle-Gro by 5,300.0% in the 3rd quarter. Anchor Investment Management LLC now owns 702 shares of the basic materials company's stock worth $61,000 after acquiring an additional 689 shares during the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $77.14, for a total transaction of $38,570.00. Following the transaction, the insider now owns 13,553,274 shares of the company's stock, valued at $1,045,499,556.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Hagedorn sold 18,368 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $75.68, for a total transaction of $1,390,090.24. Following the completion of the sale, the chief executive officer now directly owns 87,426 shares of the company's stock, valued at approximately $6,616,399.68. This trade represents a 17.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,227 shares of company stock worth $4,410,268. Corporate insiders own 25.37% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Truist Financial decreased their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating for the company in a research report on Friday, November 8th. Jefferies Financial Group assumed coverage on shares of Scotts Miracle-Gro in a report on Monday, December 9th. They set a "hold" rating and a $72.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Finally, UBS Group dropped their target price on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $76.67.

Scotts Miracle-Gro Trading Down 0.6 %

NYSE SMG traded down $0.42 during trading hours on Tuesday, hitting $68.32. 445,079 shares of the company's stock traded hands, compared to its average volume of 501,885. The Scotts Miracle-Gro Company has a 52 week low of $53.43 and a 52 week high of $93.90. The firm has a market capitalization of $3.93 billion, a P/E ratio of -99.01 and a beta of 1.73. The business's fifty day moving average price is $72.39 and its two-hundred day moving average price is $73.96.

Scotts Miracle-Gro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $0.66 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a yield of 3.86%. Scotts Miracle-Gro's dividend payout ratio is currently -382.61%.

Scotts Miracle-Gro Company Profile

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.