Parallel Advisors LLC Buys 894 Shares of The Scotts Miracle-Gro Company $SMG

Parallel Advisors LLC raised its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 228.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,286 shares of the basic materials company’s stock after buying an additional 894 shares during the period. Parallel Advisors LLC’s holdings in Scotts Miracle-Gro were worth $85,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Investors Research Corp grew its position in shares of Scotts Miracle-Gro by 64.8% in the second quarter. Investors Research Corp now owns 23,650 shares of the basic materials company’s stock valued at $1,560,000 after purchasing an additional 9,302 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Scotts Miracle-Gro in the second quarter valued at about $242,000. Voya Investment Management LLC grew its position in shares of Scotts Miracle-Gro by 5.3% in the first quarter. Voya Investment Management LLC now owns 6,743 shares of the basic materials company’s stock valued at $370,000 after purchasing an additional 341 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Scotts Miracle-Gro by 154.4% in the first quarter. Intech Investment Management LLC now owns 69,065 shares of the basic materials company’s stock valued at $3,791,000 after purchasing an additional 41,912 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Scotts Miracle-Gro by 18.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,882 shares of the basic materials company’s stock valued at $8,227,000 after purchasing an additional 23,446 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Price Performance

SMG stock opened at $57.33 on Thursday. The company has a 50 day moving average price of $62.37 and a 200 day moving average price of $60.30. The Scotts Miracle-Gro Company has a fifty-two week low of $45.61 and a fifty-two week high of $93.90. The stock has a market capitalization of $3.31 billion, a PE ratio of 75.44 and a beta of 1.98.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, topping 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 firm 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. Scotts Miracle-Gro’s revenue was down 1.2% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. As a group, equities analysts expect that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business 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. This represents a $2.64 annualized dividend and a yield of 4.6%. The ex-dividend date was Friday, August 22nd. Scotts Miracle-Gro’s payout ratio is 347.37%.

Analyst Ratings Changes

SMG has been the topic of several research analyst reports. Zacks Research downgraded Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Wells Fargo & Company raised their price target on Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. UBS Group set a $68.00 price target on Scotts Miracle-Gro and gave the company a “neutral” rating in a research report on Thursday, July 31st. Stifel Nicolaus lowered their price target on Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday, August 4th. Finally, Wall Street Zen upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro has an average rating of “Moderate Buy” and a consensus price target of $71.17.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, EVP Mark J. Scheiwer purchased 1,790 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average price of $61.32 per share, with a total value of $109,762.80. Following the purchase, the executive vice president directly owned 10,130 shares in the company, valued at $621,171.60. This trade represents a 21.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $63.02, for a total value of $3,569,011.66. Following the completion of the transaction, the director directly owned 13,217,641 shares in the company, valued at approximately $832,975,735.82. This trade represents a 0.43% decrease in their position. The disclosure for this sale can be found here. Insiders own 25.37% of the company’s stock.

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.