Leeward Investments LLC MA Sells 12,107 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Leeward Investments LLC MA trimmed its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 20.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,739 shares of the basic materials company's stock after selling 12,107 shares during the period. Leeward Investments LLC MA owned about 0.08% of Scotts Miracle-Gro worth $4,052,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SMG. Greenwood Capital Associates LLC lifted its holdings in shares of Scotts Miracle-Gro by 2.2% during the third quarter. Greenwood Capital Associates LLC now owns 15,737 shares of the basic materials company's stock valued at $1,364,000 after purchasing an additional 342 shares during the last quarter. Fernwood Investment Management LLC raised its stake in shares of Scotts Miracle-Gro by 98.9% in the third quarter. Fernwood Investment Management LLC now owns 10,055 shares of the basic materials company's stock worth $872,000 after buying an additional 5,000 shares during the period. Van ECK Associates Corp increased its stake in shares of Scotts Miracle-Gro by 114.4% in the third quarter. Van ECK Associates Corp now owns 73,458 shares of the basic materials company's stock worth $6,361,000 after purchasing an additional 39,196 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Scotts Miracle-Gro by 0.9% in the third quarter. Janney Montgomery Scott LLC now owns 78,506 shares of the basic materials company's stock worth $6,807,000 after acquiring an additional 708 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Scotts Miracle-Gro by 427.0% during the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company's stock valued at $29,000 after buying an additional 269 shares during the last quarter. 74.07% of the stock is owned by institutional investors.

Insider Activity at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the transaction, the insider now owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the completion of the transaction, the insider now owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the chief operating officer now owns 37,920 shares of the company's stock, valued at $2,689,665.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.46% of the company's stock.

Scotts Miracle-Gro Stock Performance

Shares of SMG traded down $1.17 during midday trading on Friday, hitting $71.82. The company had a trading volume of 780,776 shares, compared to its average volume of 812,639. The Scotts Miracle-Gro Company has a 1 year low of $48.29 and a 1 year high of $93.90. The company's 50-day simple moving average is $80.84 and its 200-day simple moving average is $72.40. The firm has a market capitalization of $4.08 billion, a P/E ratio of -106.83 and a beta of 1.76.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported ($2.31) earnings per share for the quarter, missing the consensus estimate of ($1.94) by ($0.37). Scotts Miracle-Gro had a negative net margin of 0.98% and a negative return on equity of 44.97%. The firm had revenue of $414.70 million during the quarter, compared to analyst estimates of $392.95 million. Equities analysts predict that The Scotts Miracle-Gro Company will post 3.69 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.64 annualized dividend and a yield of 3.68%. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently -382.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lowered 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 research report on Thursday. 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. Truist Financial reduced their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating on the stock in a research report on Friday. UBS Group decreased their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Stifel Nicolaus raised 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. Five 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 stock has an average rating of "Hold" and a consensus target price of $78.60.

Scotts Miracle-Gro 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.