Insider Selling: Scotts Miracle-Gro (NYSE:SMG) Director Sells 831 Shares of Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director Mark Kingdon sold 831 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $61.65, for a total value of $51,231.15. Following the completion of the transaction, the director owned 10,827 shares of the company’s stock, valued at approximately $667,484.55. The trade was a 7.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock traded down $0.71 during midday trading on Tuesday, hitting $61.56. The company had a trading volume of 74,862 shares, compared to its average volume of 952,467. The company has a 50 day moving average of $65.44 and a 200 day moving average of $64.34. The stock has a market capitalization of $3.58 billion, a P/E ratio of 53.54 and a beta of 1.82. The Scotts Miracle-Gro Company has a 52-week low of $52.00 and a 52-week high of $75.34.

Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, July 29th. The basic materials company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.34. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Scotts Miracle-Gro had a negative return on equity of 81.90% and a net margin of 2.19%.The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.59 earnings per share. Equities research analysts forecast that The Scotts Miracle-Gro Company will post 4.39 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 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 4.3%. The ex-dividend date of this dividend is Friday, August 21st. Scotts Miracle-Gro’s payout ratio is presently 229.57%.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several hedge funds have recently modified their holdings of SMG. Rehmann Capital Advisory Group boosted its position in Scotts Miracle-Gro by 4.2% during the fourth quarter. Rehmann Capital Advisory Group now owns 4,690 shares of the basic materials company’s stock worth $275,000 after purchasing an additional 187 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of Scotts Miracle-Gro by 3.9% in the first quarter. Baader Bank Aktiengesellschaft now owns 5,193 shares of the basic materials company’s stock valued at $312,000 after purchasing an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Scotts Miracle-Gro by 2.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 9,126 shares of the basic materials company’s stock worth $555,000 after buying an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its stake in Scotts Miracle-Gro by 7.3% during the second quarter. GAMMA Investing LLC now owns 3,200 shares of the basic materials company’s stock worth $218,000 after buying an additional 218 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Scotts Miracle-Gro by 6.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,077 shares of the basic materials company’s stock valued at $296,000 after buying an additional 294 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SMG shares. Wall Street Zen cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Stifel Nicolaus boosted their price target on shares of Scotts Miracle-Gro from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. UBS Group upped their price target on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Company increased their price objective on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $79.00 price objective on shares of Scotts Miracle-Gro in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $75.40.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.