Amalgamated Bank Reduces Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Amalgamated Bank decreased its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,869 shares of the basic materials company’s stock after selling 1,401 shares during the quarter. Amalgamated Bank’s holdings in Scotts Miracle-Gro were worth $1,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ontario Teachers Pension Plan Board lifted its stake in shares of Scotts Miracle-Gro by 155.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 37,172 shares of the basic materials company’s stock worth $2,773,000 after acquiring an additional 22,599 shares during the last quarter. Scientech Research LLC bought a new stake in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $866,000. Retirement Systems of Alabama lifted its stake in shares of Scotts Miracle-Gro by 309.5% during the 2nd quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company’s stock worth $14,035,000 after acquiring an additional 163,037 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Scotts Miracle-Gro by 15.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 241,875 shares of the basic materials company’s stock worth $18,041,000 after acquiring an additional 32,700 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Scotts Miracle-Gro by 2.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 672,556 shares of the basic materials company’s stock worth $43,756,000 after acquiring an additional 14,533 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Insider Activity

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

Scotts Miracle-Gro Trading Down 1.1 %

Shares of NYSE:SMG opened at $73.58 on Wednesday. The Scotts Miracle-Gro Company has a 12-month low of $48.84 and a 12-month high of $93.90. The business’s fifty day simple moving average is $81.00 and its 200-day simple moving average is $72.57. The company has a market capitalization of $4.18 billion, a PE ratio of -106.64 and a beta of 1.76.

Scotts Miracle-Gro Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. UBS Group decreased their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Stifel Nicolaus lifted their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Truist Financial decreased their target price on 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. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $78.60.

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.