Intech Investment Management LLC Has $9.17 Million Holdings in The Scotts Miracle-Gro Company $SMG

Intech Investment Management LLC lifted its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 101.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 139,052 shares of the basic materials company’s stock after buying an additional 69,987 shares during the quarter. Intech Investment Management LLC owned about 0.24% of Scotts Miracle-Gro worth $9,172,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of SMG. Sound Income Strategies LLC grew its stake in Scotts Miracle-Gro by 219,313.5% in the second quarter. Sound Income Strategies LLC now owns 162,366 shares of the basic materials company’s stock valued at $10,710,000 after acquiring an additional 162,292 shares during the period. Amundi raised its position in shares of Scotts Miracle-Gro by 519.9% during the first quarter. Amundi now owns 58,000 shares of the basic materials company’s stock worth $3,083,000 after purchasing an additional 48,643 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Scotts Miracle-Gro in the 2nd quarter worth $901,000. Nuveen LLC bought a new position in shares of Scotts Miracle-Gro in the 1st quarter worth $5,475,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Scotts Miracle-Gro in the 2nd quarter valued at $287,000. Institutional investors own 74.07% of the company’s stock.

Insider Activity at Scotts Miracle-Gro

In other news, EVP Mark J. Scheiwer acquired 1,790 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average price of $61.32 per share, for a total transaction of $109,762.80. Following the completion of the purchase, the executive vice president owned 10,130 shares in the company, valued at approximately $621,171.60. This trade represents a 21.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $63.02, for a total value of $3,569,011.66. Following the completion of the sale, the director directly owned 13,217,641 shares of the company’s stock, valued at $832,975,735.82. This represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 25.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SMG shares. UBS Group lowered their price objective on shares of Scotts Miracle-Gro from $62.00 to $61.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Zacks Research downgraded shares of Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Wednesday, October 8th. Wall Street Zen downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Wells Fargo & Company decreased their price objective on Scotts Miracle-Gro from $75.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.50.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock opened at $56.69 on Friday. The firm has a market cap of $3.27 billion, a PE ratio of 74.60 and a beta of 1.98. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $83.55. The stock has a fifty day moving average price of $57.06 and a 200-day moving average price of $60.65.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share for the quarter, missing the consensus estimate of ($1.88) by ($0.08). Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The company had revenue of $387.40 million for the quarter, compared to the consensus estimate of $396.75 million. During the same quarter in the previous year, the company posted ($2.31) EPS. Scotts Miracle-Gro’s quarterly revenue was down 6.6% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. As a group, equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 21st 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 4.7%. The ex-dividend date of this dividend is Friday, November 21st. Scotts Miracle-Gro’s dividend payout ratio is currently 109.09%.

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.