The Scotts Miracle-Gro Company (NYSE:SMG) Shares Acquired by Huntington National Bank

Huntington National Bank boosted its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,664 shares of the basic materials company’s stock after purchasing an additional 200 shares during the period. Huntington National Bank’s holdings in Scotts Miracle-Gro were worth $243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atala Financial Inc acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at $26,000. Tortoise Investment Management LLC increased its holdings in shares of Scotts Miracle-Gro by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company’s stock valued at $34,000 after buying an additional 225 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Scotts Miracle-Gro by 68.3% during the 4th quarter. Blue Trust Inc. now owns 621 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 252 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Scotts Miracle-Gro during the 3rd quarter worth $44,000. 74.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SMG shares. Stifel Nicolaus raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and reduced their target price for the company from $78.00 to $70.00 in a report on Tuesday, March 4th. Wells Fargo & Company reduced their price objective on shares of Scotts Miracle-Gro from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday. Jefferies Financial Group started coverage on shares of Scotts Miracle-Gro in a research report on Monday, December 9th. They issued a “hold” rating and a $72.00 target price on the stock. UBS Group reduced their price target on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Truist Financial upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.33.

Scotts Miracle-Gro Stock Performance

Shares of SMG opened at $51.35 on Friday. The Scotts Miracle-Gro Company has a 52 week low of $49.39 and a 52 week high of $93.90. The company has a market capitalization of $2.95 billion, a PE ratio of -106.98 and a beta of 1.96. The company’s 50 day moving average price is $62.47 and its 200 day moving average price is $71.92.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.34. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. During the same period in the prior year, the firm earned ($1.45) EPS. On average, equities analysts forecast that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a $0.66 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.64 dividend on an annualized basis and a yield of 5.14%. Scotts Miracle-Gro’s dividend payout ratio is currently -550.00%.

Insider Activity at Scotts Miracle-Gro

In related news, CEO James Hagedorn sold 142,733 shares of Scotts Miracle-Gro stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $71.56, for a total value of $10,213,973.48. Following the completion of the sale, the chief executive officer now owns 88,310 shares of the company’s stock, valued at approximately $6,319,463.60. The trade was a 61.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hagedorn Partnership, L.P. sold 12,123 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $66.86, for a total value of $810,543.78. Following the completion of the transaction, the director now directly owns 13,432,151 shares in the company, valued at $898,073,615.86. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,937 shares of company stock valued at $11,379,275. 25.37% of the stock is currently owned by corporate insiders.

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.