Mutual of America Capital Management LLC Lowers Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Mutual of America Capital Management LLC trimmed its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 2.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,998 shares of the basic materials company’s stock after selling 670 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Scotts Miracle-Gro were worth $1,865,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC grew its stake in Scotts Miracle-Gro by 135.2% during the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after buying an additional 192 shares during the period. GAMMA Investing LLC purchased a new stake in Scotts Miracle-Gro during the fourth quarter worth approximately $29,000. Frazier Financial Advisors LLC purchased a new stake in Scotts Miracle-Gro during the fourth quarter worth approximately $36,000. Bruce G. Allen Investments LLC purchased a new stake in Scotts Miracle-Gro during the fourth quarter worth approximately $47,000. Finally, Principal Securities Inc. purchased a new stake in Scotts Miracle-Gro during the fourth quarter worth approximately $76,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Wells Fargo & Company reduced their target price on shares of Scotts Miracle-Gro from $83.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. Truist Financial cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their target price for the stock from $65.00 to $75.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their target price on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Raymond James reissued a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $71.67.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 31,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $69.67, for a total transaction of $2,159,770.00. Following the sale, the director now directly owns 13,746,012 shares of the company’s stock, valued at $957,684,656.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.46% of the stock is currently owned by corporate insiders.

Scotts Miracle-Gro Stock Down 0.5 %

SMG opened at $63.55 on Friday. The firm’s fifty day moving average price is $66.20 and its 200 day moving average price is $65.07. The Scotts Miracle-Gro Company has a 12-month low of $43.67 and a 12-month high of $77.95.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.36. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $3.78 earnings per share. As a group, research analysts predict that The Scotts Miracle-Gro Company will post 2.55 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were issued a $0.66 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.64 annualized dividend and a yield of 4.15%. Scotts Miracle-Gro’s dividend payout ratio is presently -42.31%.

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.