Crossmark Global Holdings Inc. Buys Shares of 2,796 The Scotts Miracle-Gro Company (NYSE:SMG)

Crossmark Global Holdings Inc. purchased a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,796 shares of the basic materials company’s stock, valued at approximately $243,000.

Other hedge funds also recently modified their holdings of the company. OLD National Bancorp IN grew its position in shares of Scotts Miracle-Gro by 2.7% in the 3rd quarter. OLD National Bancorp IN now owns 5,049 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 131 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Scotts Miracle-Gro by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 161 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Scotts Miracle-Gro by 83.6% during the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares during the period. Versant Capital Management Inc lifted its position in Scotts Miracle-Gro by 80.1% in the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 173 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Scotts Miracle-Gro by 4.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,944 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

SMG has been the topic of several recent research reports. Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. UBS Group cut their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Stifel Nicolaus increased their target price on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Truist Financial lowered their price target on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.60.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 2,988 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $211,938.84. Following the transaction, the chief operating officer now owns 37,920 shares in the company, valued at $2,689,665.60. This represents a 7.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the completion of the sale, the insider now owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.46% of the stock is currently owned by corporate insiders.

Scotts Miracle-Gro Stock Up 0.6 %

Scotts Miracle-Gro stock opened at $74.84 on Tuesday. The company’s 50-day moving average price is $81.45 and its two-hundred day moving average price is $72.73. The stock has a market cap of $4.25 billion, a P/E ratio of -108.46 and a beta of 1.76. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90.

Scotts Miracle-Gro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.64 annualized dividend and a yield of 3.53%. Scotts Miracle-Gro’s payout ratio is currently -382.61%.

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.