Metis Global Partners LLC Takes Position in The Scotts Miracle-Gro Company $SMG

Metis Global Partners LLC bought a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,694 shares of the basic materials company’s stock, valued at approximately $244,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Spire Wealth Management raised its holdings in Scotts Miracle-Gro by 32.1% during the second quarter. Spire Wealth Management now owns 725 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 176 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of Scotts Miracle-Gro by 3.1% in the 1st quarter. Moors & Cabot Inc. now owns 6,415 shares of the basic materials company’s stock valued at $352,000 after buying an additional 191 shares during the last quarter. Wellington Shields Capital Management LLC raised its stake in Scotts Miracle-Gro by 16.1% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 2,001 shares of the basic materials company’s stock worth $132,000 after acquiring an additional 278 shares in the last quarter. Boyar Asset Management Inc. lifted its position in Scotts Miracle-Gro by 1.0% in the second quarter. Boyar Asset Management Inc. now owns 28,106 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 289 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Scotts Miracle-Gro by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the basic materials company’s stock valued at $664,000 after acquiring an additional 300 shares in the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Trading Down 0.2%

Shares of SMG stock opened at $58.39 on Friday. The company has a market capitalization of $3.37 billion, a P/E ratio of 76.83 and a beta of 1.98. The business’s 50 day moving average is $57.19 and its two-hundred day moving average is $60.58. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $83.55.

Scotts Miracle-Gro (NYSE:SMG) last issued 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 negative return on equity of 60.46% and a net margin of 1.54%.The company had revenue of $387.40 million for the quarter, compared to analyst estimates of $396.75 million. During the same period in the prior year, the business earned ($2.31) earnings per share. Scotts Miracle-Gro’s revenue for the quarter 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 predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 21st will be issued a $0.66 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.64 annualized dividend and a dividend yield of 4.5%. Scotts Miracle-Gro’s payout ratio is presently 109.09%.

Insider Transactions at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 56,633 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark J. Scheiwer acquired 1,790 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, September 3rd. The stock was purchased at an average price of $61.32 per share, with a total value of $109,762.80. Following the transaction, the executive vice president owned 10,130 shares of the company’s stock, valued at $621,171.60. This trade represents a 21.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 25.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Wednesday, October 8th. Zacks Research lowered Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Jefferies Financial Group boosted their price objective on Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wells Fargo & Company lowered their target price on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, UBS Group reduced their price target on shares of Scotts Miracle-Gro from $62.00 to $61.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.50.

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.