Insider Buying: Scotts Miracle-Gro (NYSE:SMG) EVP Buys 693 Shares of Stock

The Scotts Miracle-Gro Company (NYSE:SMG) EVP Mark Scheiwer acquired 693 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were bought at an average cost of $71.44 per share, with a total value of $49,507.92. Following the completion of the acquisition, the executive vice president owned 15,370 shares in the company, valued at $1,098,032.80. This represents a 4.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Scotts Miracle-Gro Stock Performance

Shares of SMG stock traded down $1.51 during trading hours on Wednesday, hitting $69.02. 382,417 shares of the company were exchanged, compared to its average volume of 879,280. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 46.94 and a beta of 1.98. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $72.35. The business’s 50-day simple moving average is $63.11 and its two-hundred day simple moving average is $59.57.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, January 28th. The basic materials company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.27. The firm had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $353.25 million. Scotts Miracle-Gro had a negative return on equity of 68.59% and a net margin of 2.68%.Scotts Miracle-Gro’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.89) earnings per share. Scotts Miracle-Gro has set its FY 2026 guidance at 4.150-4.35 EPS. As a group, analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 20th. Scotts Miracle-Gro’s dividend payout ratio is 179.59%.

Analysts Set New Price Targets

SMG has been the topic of several research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research note on Wednesday, January 21st. Stifel Nicolaus set a $70.00 price target on Scotts Miracle-Gro and gave the stock a “buy” rating in a research report on Thursday, November 6th. Jefferies Financial Group raised their price target on Scotts Miracle-Gro from $71.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. UBS Group set a $67.00 target price on Scotts Miracle-Gro in a research report on Thursday, January 29th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Scotts Miracle-Gro in a research note on Tuesday, February 17th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of “Moderate Buy” and an average price target of $71.00.

Institutional Trading of Scotts Miracle-Gro

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its stake in shares of Scotts Miracle-Gro by 26.3% during the first quarter. Empowered Funds LLC now owns 7,524 shares of the basic materials company’s stock valued at $413,000 after acquiring an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Scotts Miracle-Gro by 18.5% during the 1st 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 in the last quarter. Freedom Investment Management Inc. acquired a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at $253,000. AlphaQuest LLC raised its stake in shares of Scotts Miracle-Gro by 127.9% in the 2nd quarter. AlphaQuest LLC now owns 6,143 shares of the basic materials company’s stock worth $405,000 after buying an additional 3,448 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Scotts Miracle-Gro by 9.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 57,250 shares of the basic materials company’s stock worth $3,776,000 after buying an additional 5,004 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.