Scotts Miracle-Gro (NYSE:SMG) Director Sells $176,345.10 in Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director David Evans sold 2,655 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $66.42, for a total transaction of $176,345.10. Following the sale, the director directly owned 25,405 shares of the company’s stock, valued at $1,687,400.10. The trade was a 9.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Scotts Miracle-Gro Stock Performance

SMG traded up $0.07 during trading on Friday, hitting $63.81. The stock had a trading volume of 918,405 shares, compared to its average volume of 1,165,490. The company has a market capitalization of $3.71 billion, a PE ratio of 37.98 and a beta of 1.87. The Scotts Miracle-Gro Company has a twelve month low of $47.90 and a twelve month high of $75.34. The stock has a 50 day simple moving average of $56.18 and a two-hundred day simple moving average of $62.00.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, November 4th. The basic materials company reported ($2.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.21) by $0.05. The business had revenue of $302.90 million for the quarter, compared to analyst estimates of $306.11 million. Scotts Miracle-Gro had a net margin of 3.16% and a negative return on equity of 77.42%. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the previous year, the company earned ($2.63) earnings per share. On average, equities research analysts anticipate that The Scotts Miracle-Gro Company will post 4.78 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 20th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, November 20th. Scotts Miracle-Gro’s payout ratio is 157.14%.

Analyst Upgrades and Downgrades

SMG has been the topic of several recent analyst reports. Weiss Ratings lowered Scotts Miracle-Gro from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, October 6th. UBS Group increased their price target on Scotts Miracle-Gro from $70.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Citigroup reissued an “overweight” rating on shares of Scotts Miracle-Gro in a report on Monday, November 2nd. Stifel Nicolaus dropped their price target on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Finally, Wells Fargo & Company boosted their price target on Scotts Miracle-Gro from $71.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Scotts Miracle-Gro during the first quarter valued at $26,000. Fortitude Family Office LLC increased its position in shares of Scotts Miracle-Gro by 2,021.4% in the 3rd quarter. Fortitude Family Office LLC now owns 594 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 566 shares during the period. Elevation Wealth Partners LLC increased its position in shares of Scotts Miracle-Gro by 394.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 599 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Scotts Miracle-Gro by 661.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,219 shares of the basic materials company’s stock valued at $74,000 after acquiring an additional 1,059 shares during the period. Finally, Hilltop National Bank raised its stake in Scotts Miracle-Gro by 81.7% in the 2nd quarter. Hilltop National Bank now owns 1,641 shares of the basic materials company’s stock worth $112,000 after acquiring an additional 738 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company develops, manufactures and markets branded products for lawn care and gardening. Its offerings include grass seed, lawn fertilizers and weed-control products, soils, plant foods and other products for growing and maintaining lawns, gardens and landscapes. Its consumer brands include Scotts, Miracle-Gro and Ortho. The company also has a Hawthorne business that supplies equipment and products for indoor and hydroponic gardening. Scotts Miracle-Gro’s products are sold primarily in North America, with additional operations and sales in international markets.