Clearstead Advisors LLC Sells 430 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Clearstead Advisors LLC lessened its holdings in The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating) by 3.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,840 shares of the basic materials company’s stock after selling 430 shares during the period. Clearstead Advisors LLC’s holdings in Scotts Miracle-Gro were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of SMG. ExodusPoint Capital Management LP acquired a new stake in shares of Scotts Miracle-Gro in the 3rd quarter valued at $1,988,000. New York State Common Retirement Fund boosted its stake in shares of Scotts Miracle-Gro by 21.6% in the 3rd quarter. New York State Common Retirement Fund now owns 381,004 shares of the basic materials company’s stock valued at $16,288,000 after purchasing an additional 67,634 shares in the last quarter. CHICAGO TRUST Co NA boosted its stake in shares of Scotts Miracle-Gro by 20.3% in the 3rd quarter. CHICAGO TRUST Co NA now owns 5,930 shares of the basic materials company’s stock valued at $254,000 after purchasing an additional 1,000 shares in the last quarter. Virtus ETF Advisers LLC boosted its stake in shares of Scotts Miracle-Gro by 40.1% in the 2nd quarter. Virtus ETF Advisers LLC now owns 14,235 shares of the basic materials company’s stock valued at $1,124,000 after purchasing an additional 4,075 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Scotts Miracle-Gro by 2.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 40,894 shares of the basic materials company’s stock valued at $1,748,000 after purchasing an additional 1,031 shares in the last quarter. Institutional investors own 68.98% of the company’s stock.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock opened at $74.83 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 0.83 and a debt-to-equity ratio of 53.61. The Scotts Miracle-Gro Company has a 1 year low of $39.06 and a 1 year high of $133.50. The company has a market cap of $4.19 billion, a PE ratio of -9.11 and a beta of 1.66. The company’s 50-day moving average is $72.41 and its two-hundred day moving average is $59.12.

Scotts Miracle-Gro (NYSE:SMG – Get Rating) last released its earnings results on Wednesday, February 1st. The basic materials company reported ($1.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.36) by $0.34. Scotts Miracle-Gro had a negative net margin of 11.64% and a positive return on equity of 55.54%. The company had revenue of $526.60 million for the quarter, compared to the consensus estimate of $502.44 million. During the same period in the prior year, the company posted ($0.88) EPS. The company’s revenue was down 7.0% compared to the same quarter last year. Equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.17 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 24th were given a dividend of $0.66 per share. The ex-dividend date was Thursday, February 23rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.53%. Scotts Miracle-Gro’s payout ratio is presently -32.16%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SMG. Raymond James boosted their target price on shares of Scotts Miracle-Gro from $56.00 to $92.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 2nd. Barclays upped their price target on shares of Scotts Miracle-Gro from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 21st. Wells Fargo & Company upgraded shares of Scotts Miracle-Gro from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $100.00 in a research report on Thursday, February 16th. JPMorgan Chase & Co. upped their price target on shares of Scotts Miracle-Gro from $45.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. Finally, Truist Financial upped their price target on shares of Scotts Miracle-Gro from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.00.

Insider Buying and Selling at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, EVP Denise Stump sold 2,503 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $86.51, for a total transaction of $216,534.53. Following the transaction, the executive vice president now directly owns 39,875 shares in the company, valued at approximately $3,449,586.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Denise Stump sold 2,503 shares of the company’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $86.51, for a total value of $216,534.53. Following the completion of the sale, the executive vice president now directly owns 39,875 shares of the company’s stock, valued at approximately $3,449,586.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $80.77, for a total value of $4,038,500.00. Following the completion of the sale, the insider now directly owns 14,064,775 shares of the company’s stock, valued at $1,136,011,876.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,438 shares of company stock worth $7,368,783. Company insiders own 27.28% of the company’s stock.

About Scotts Miracle-Gro

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Scotts Miracle-Gro Co engages in the manufacturing, marketing, and sale of products for lawn and garden care and indoor and hydroponic gardening. Its products and services include lawn care, gardening and landscape, hydroponic hardware and growing environments, lighting, controls, and marketing agreement.