Rehmann Capital Advisory Group Buys Shares of 3,855 The Scotts Miracle-Gro Company $SMG

Rehmann Capital Advisory Group bought a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,855 shares of the basic materials company’s stock, valued at approximately $254,000.

Several other large investors have also modified their holdings of SMG. GAMMA Investing LLC boosted its position in shares of Scotts Miracle-Gro by 31.6% during the first quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $89,000 after buying an additional 388 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Scotts Miracle-Gro by 21.9% in the first quarter. Oppenheimer & Co. Inc. now owns 3,819 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 685 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Scotts Miracle-Gro by 93.7% in the first quarter. International Assets Investment Management LLC now owns 6,704 shares of the basic materials company’s stock valued at $368,000 after purchasing an additional 3,243 shares during the period. Spire Wealth Management boosted its holdings 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 valued at $30,000 after purchasing an additional 454 shares during the period. Finally, Scott & Selber Inc. purchased a new stake in shares of Scotts Miracle-Gro in the first quarter valued at approximately $1,268,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group set a $71.00 price target on Scotts Miracle-Gro in a report on Friday, September 26th. UBS Group lowered their price target on Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, October 2nd. Stifel Nicolaus lowered their price target on Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating for the company in a report on Monday, August 4th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Friday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.17.

Scotts Miracle-Gro Stock Up 0.1%

Shares of NYSE:SMG opened at $55.45 on Friday. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 72.95 and a beta of 1.96. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90. The firm has a 50 day moving average of $58.85 and a 200 day moving average of $60.13.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.40. The company had revenue of $1.19 billion during 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%. Scotts Miracle-Gro’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. On average, sell-side analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.8%. Scotts Miracle-Gro’s dividend payout ratio is presently 347.37%.

Insiders Place Their Bets

In other news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the company’s stock in a transaction on Monday, August 4th. The stock was 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 of the company’s stock, valued at approximately $826,721,784.72. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark J. Scheiwer purchased 1,790 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average cost of $61.32 per share, for a total transaction of $109,762.80. Following the completion of the transaction, the executive vice president owned 10,130 shares of the company’s stock, valued at approximately $621,171.60. This represents a 21.46% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 25.37% of the company’s stock.

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.