Nordea Investment Management AB Purchases 454 Shares of The Scotts Miracle-Gro Company $SMG

Nordea Investment Management AB grew its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 221,045 shares of the basic materials company’s stock after acquiring an additional 454 shares during the period. Nordea Investment Management AB owned 0.38% of Scotts Miracle-Gro worth $14,476,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SMG. American National Bank & Trust bought a new position in shares of Scotts Miracle-Gro in the second quarter valued at approximately $28,000. Spire Wealth Management lifted its holdings in Scotts Miracle-Gro by 477.9% during the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company’s stock worth $30,000 after buying an additional 454 shares in the last quarter. Avalon Trust Co acquired a new position in Scotts Miracle-Gro during the 1st quarter worth $41,000. Byrne Asset Management LLC acquired a new position in Scotts Miracle-Gro during the 2nd quarter worth $45,000. Finally, Hilltop National Bank acquired a new position in Scotts Miracle-Gro during the 2nd quarter worth $66,000. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock opened at $54.26 on Monday. The firm has a fifty day moving average of $59.53 and a two-hundred day moving average of $60.12. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 71.40 and a beta of 1.96. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.19 by $0.40. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company posted $2.31 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. As a group, research analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a $0.66 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.9%. Scotts Miracle-Gro’s dividend payout ratio is currently 347.37%.

Insiders Place Their Bets

In other news, EVP Mark J. Scheiwer acquired 1,790 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average price of $61.32 per share, for a total transaction of $109,762.80. Following the transaction, the executive vice president directly owned 10,130 shares in the company, valued at approximately $621,171.60. This represents a 21.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the company’s stock in a transaction on 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 sale, the director owned 13,217,641 shares of the company’s stock, valued at approximately $832,975,735.82. This represents a 0.43% decrease in their position. The disclosure for this sale can be found here. 25.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus reduced their price objective on Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating on the stock in a report on Monday, August 4th. UBS Group reduced their price objective on Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, October 2nd. Jefferies Financial Group set a $71.00 price objective on Scotts Miracle-Gro in a report on Friday, September 26th. Truist Financial set a $80.00 price objective on Scotts Miracle-Gro and gave the stock a “buy” rating in a report on Monday, July 14th. Finally, Wall Street Zen raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Scotts Miracle-Gro has an average rating of “Moderate Buy” and a consensus target price of $69.17.

About Scotts Miracle-Gro

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.