Baader Bank Aktiengesellschaft Makes New Investment in The Scotts Miracle-Gro Company $SMG

Baader Bank Aktiengesellschaft purchased a new position in The Scotts Miracle-Gro Company (NYSE:SMGFree Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,528 shares of the basic materials company’s stock, valued at approximately $230,000.

A number of other hedge funds have also modified their holdings of SMG. Spire Wealth Management boosted its position in shares of Scotts Miracle-Gro by 477.9% in the first quarter. Spire Wealth Management now owns 549 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 454 shares during the period. UMB Bank n.a. boosted its position in shares of Scotts Miracle-Gro by 479.4% in the first quarter. UMB Bank n.a. now owns 562 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 465 shares during the period. Avalon Trust Co bought a new position in shares of Scotts Miracle-Gro in the first quarter worth approximately $41,000. Byrne Asset Management LLC bought a new position in shares of Scotts Miracle-Gro during the second quarter worth $45,000. Finally, Parallel Advisors LLC boosted its position in shares of Scotts Miracle-Gro by 228.1% during the second quarter. Parallel Advisors LLC now owns 1,286 shares of the basic materials company’s stock worth $85,000 after acquiring an additional 894 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Price Performance

SMG stock opened at $58.03 on Friday. The company has a market capitalization of $3.35 billion, a PE ratio of 76.36 and a beta of 1.98. The Scotts Miracle-Gro Company has a 12 month low of $45.61 and a 12 month high of $93.90. The firm’s 50-day moving average is $62.99 and its 200 day moving average is $60.39.

Scotts Miracle-Gro (NYSE:SMGGet Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.19 by $0.40. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.23 billion. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 EPS. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. Sell-side analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, August 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 347.37%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Stifel Nicolaus dropped their target price on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, August 4th. UBS Group set a $68.00 target price on shares of Scotts Miracle-Gro and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Zacks Research upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.17.

Get Our Latest Stock Report on Scotts Miracle-Gro

Insider Activity

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer bought 1,790 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were acquired at an average price of $61.32 per share, with a total value of $109,762.80. Following the transaction, the executive vice president owned 10,130 shares of the company’s stock, valued at approximately $621,171.60. This trade represents a 21.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 70,000 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the transaction, the director directly owned 13,274,274 shares in the company, valued at $826,721,784.72. This trade represents a 0.52% decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.37% of the company’s stock.

Scotts Miracle-Gro Profile

(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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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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