Entropy Technologies LP Has $2.04 Million Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Entropy Technologies LP lessened its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 28.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,495 shares of the basic materials company’s stock after selling 9,182 shares during the quarter. Entropy Technologies LP’s holdings in Scotts Miracle-Gro were worth $2,037,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SMG. Texas Permanent School Fund Corp raised its position in Scotts Miracle-Gro by 2.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 36,647 shares of the basic materials company’s stock worth $2,734,000 after purchasing an additional 866 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Scotts Miracle-Gro by 9.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,041 shares of the basic materials company’s stock valued at $1,122,000 after acquiring an additional 1,289 shares during the period. Swiss National Bank boosted its holdings in Scotts Miracle-Gro by 1.1% in the first quarter. Swiss National Bank now owns 83,900 shares of the basic materials company’s stock valued at $6,258,000 after acquiring an additional 900 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Scotts Miracle-Gro in the first quarter worth about $267,000. Finally, US Bancorp DE lifted its position in Scotts Miracle-Gro by 9.9% during the 1st quarter. US Bancorp DE now owns 40,992 shares of the basic materials company’s stock valued at $3,058,000 after purchasing an additional 3,688 shares during the period. 74.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on SMG shares. Truist Financial lowered their price target on shares of 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. Wells Fargo & Company lowered their target price 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, November 7th. Stifel Nicolaus raised their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. UBS Group dropped their price objective on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.60.

Insider Activity

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the 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 $6,038,270.90. Following the completion of the sale, the insider now directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the completion of the transaction, the insider now directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Nathan Eric Baxter sold 2,988 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $211,938.84. Following the completion of the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at $2,689,665.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 26.46% of the stock is currently owned by company insiders.

Scotts Miracle-Gro Stock Performance

SMG opened at $73.58 on Wednesday. The company has a fifty day simple moving average of $81.00 and a 200 day simple moving average of $72.57. The Scotts Miracle-Gro Company has a 12 month low of $48.84 and a 12 month high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

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.