Van ECK Associates Corp Has $446,000 Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

Van ECK Associates Corp trimmed its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 90.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,726 shares of the basic materials company's stock after selling 66,732 shares during the quarter. Van ECK Associates Corp's holdings in Scotts Miracle-Gro were worth $446,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. lifted its stake in Scotts Miracle-Gro by 1,033.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 364,045 shares of the basic materials company's stock worth $31,563,000 after purchasing an additional 331,925 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Scotts Miracle-Gro by 8,330.2% in the 3rd quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company's stock valued at $24,405,000 after acquiring an additional 278,146 shares in the last quarter. BNP Paribas Financial Markets grew its position in Scotts Miracle-Gro by 228.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 252,798 shares of the basic materials company's stock valued at $21,918,000 after purchasing an additional 175,719 shares during the period. Pacer Advisors Inc. increased its position in shares of Scotts Miracle-Gro by 5.0% during the third quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company's stock worth $275,082,000 after acquiring an additional 151,354 shares in the last quarter. Finally, De Lisle Partners LLP bought a new position in shares of Scotts Miracle-Gro in the third quarter valued at approximately $10,162,000. Institutional investors own 74.07% of the company's stock.

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Insider Transactions 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 stock was sold at an average price of $77.14, for a total value of $38,570.00. Following the completion of the transaction, the insider now directly owns 13,553,274 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, COO Nathan Eric Baxter sold 11,359 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $75.37, for a total transaction of $856,127.83. Following the completion of the sale, the chief operating officer now directly owns 51,631 shares of the company's stock, valued at $3,891,428.47. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 190,164 shares of company stock worth $13,664,064. 25.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SMG. Jefferies Financial Group started coverage on Scotts Miracle-Gro in a report on Monday, December 9th. They issued a "hold" rating and a $72.00 price objective for the company. Truist Financial reduced their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus raised their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $75.83.

Scotts Miracle-Gro Trading Down 0.1 %

Scotts Miracle-Gro stock traded down $0.08 during midday trading on Wednesday, reaching $60.33. 446,363 shares of the stock traded hands, compared to its average volume of 736,125. The company has a 50-day simple moving average of $67.89 and a two-hundred day simple moving average of $74.23. The Scotts Miracle-Gro Company has a 12-month low of $59.15 and a 12-month high of $93.90. The firm has a market cap of $3.47 billion, a PE ratio of -125.66 and a beta of 1.74.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The basic materials company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.23) by $0.34. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. During the same quarter in the prior year, the firm posted ($1.45) earnings per share. Equities research analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.66 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.38%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently -550.00%.

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.