Investors Research Corp Has $1.56 Million Holdings in The Scotts Miracle-Gro Company $SMG

Key Points

• Investors Research Corp increased its holdings in The Scotts Miracle-Gro Company by 64.8% during the second quarter, now owning 23,650 shares valued at approximately $1.56 million.
• Several large investors have recently adjusted their stakes in Scotts Miracle-Gro, with a significant portion of the stock, 74.07%, currently owned by institutional investors and hedge funds.
• Scotts Miracle-Gro recently declared a quarterly dividend of $0.66 per share, leading to an annualized dividend of $2.64 and a yield of 4.3%.

Investors Research Corp raised its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 64.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,650 shares of the basic materials company's stock after purchasing an additional 9,302 shares during the period. Investors Research Corp's holdings in Scotts Miracle-Gro were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its stake in shares of Scotts Miracle-Gro by 21.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,819 shares of the basic materials company's stock valued at $210,000 after acquiring an additional 685 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Scotts Miracle-Gro by 31.6% in the 1st quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company's stock valued at $89,000 after acquiring an additional 388 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at about $226,000. SG Americas Securities LLC bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at about $1,011,000. Finally, Nuveen LLC bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at about $5,475,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price target on Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. UBS Group set a $68.00 price target on Scotts Miracle-Gro and gave the company a "neutral" rating in a research note on Thursday, July 31st. 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 research note on Monday, August 4th. Truist Financial set a $80.00 price target on Scotts Miracle-Gro and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Zacks Research raised Scotts Miracle-Gro from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Scotts Miracle-Gro currently has an average rating of "Moderate Buy" and an average target price of $71.17.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer purchased 1,790 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $61.32 per share, with a total value of $109,762.80. Following the purchase, the executive vice president directly owned 10,130 shares of the company's stock, valued at $621,171.60. The trade was a 21.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hagedorn Partnership, L.P. sold 70,000 shares of the firm's stock in a transaction that occurred 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 $826,721,784.72. This represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.37% of the stock is owned by company insiders.

Scotts Miracle-Gro Stock Performance

NYSE SMG opened at $60.78 on Friday. The business has a 50 day simple moving average of $63.92 and a 200 day simple moving average of $60.35. The Scotts Miracle-Gro Company has a 52-week low of $45.61 and a 52-week high of $93.90. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 79.97 and a beta of 1.98.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.40. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.23 billion. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The business's quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $2.31 EPS. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. On average, analysts predict 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 paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, August 22nd. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently 347.37%.

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.

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