Aigen Investment Management LP Raises Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Aigen Investment Management LP grew its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 170.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,657 shares of the basic materials company’s stock after buying an additional 6,091 shares during the quarter. Aigen Investment Management LP’s holdings in Scotts Miracle-Gro were worth $837,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SMG. Versant Capital Management Inc lifted its position in Scotts Miracle-Gro by 80.1% in the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after buying an additional 173 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Scotts Miracle-Gro in the 2nd quarter worth about $25,000. Global X Japan Co. Ltd. purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Scotts Miracle-Gro during the 2nd quarter valued at about $29,000. Finally, Farther Finance Advisors LLC raised its position in Scotts Miracle-Gro by 427.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 269 shares during the period. Institutional investors own 74.07% of the company’s stock.

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 on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $211,938.84. Following the sale, the chief operating officer now owns 37,920 shares of the company’s stock, valued at approximately $2,689,665.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 2,988 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $211,938.84. Following the completion of the transaction, the chief operating officer now directly owns 37,920 shares in the company, valued at approximately $2,689,665.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s stock in a transaction dated 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 in the company, valued at $965,232,321.34. This represents a 0.00 % 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 Down 1.1 %

NYSE:SMG opened at $73.58 on Wednesday. The Scotts Miracle-Gro Company has a 1-year low of $48.84 and a 1-year high of $93.90. The company has a 50-day moving average of $81.00 and a 200 day moving average of $72.57.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.66 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.59%. Scotts Miracle-Gro’s dividend payout ratio is presently -382.61%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus boosted their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company reduced their target price 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. JPMorgan Chase & Co. lowered their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Truist Financial reduced 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. Finally, UBS Group lowered their price objective on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.60.

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.