Nisa Investment Advisors LLC Purchases 6,805 Shares of The Scotts Miracle-Gro Company $SMG

Nisa Investment Advisors LLC lifted its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 23.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,535 shares of the basic materials company’s stock after buying an additional 6,805 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Scotts Miracle-Gro were worth $2,344,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Scotts Miracle-Gro by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 4,645,267 shares of the basic materials company’s stock valued at $254,979,000 after buying an additional 118,729 shares in the last quarter. Millennium Management LLC lifted its holdings in Scotts Miracle-Gro by 288.8% in the 1st quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company’s stock worth $78,011,000 after purchasing an additional 1,055,672 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Scotts Miracle-Gro by 770.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 334,934 shares of the basic materials company’s stock worth $18,385,000 after purchasing an additional 296,448 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in Scotts Miracle-Gro by 13.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 294,555 shares of the basic materials company’s stock worth $16,168,000 after purchasing an additional 35,730 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in Scotts Miracle-Gro by 27.5% in the 2nd quarter. Blair William & Co. IL now owns 243,054 shares of the basic materials company’s stock worth $16,032,000 after purchasing an additional 52,447 shares during the last quarter. Institutional investors own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SMG. Zacks Research lowered Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Truist Financial set a $80.00 target price on Scotts Miracle-Gro and gave the stock a “buy” rating in a report on Monday, July 14th. UBS Group reduced their target price on Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, October 2nd. Wall Street Zen lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.17.

Scotts Miracle-Gro Stock Down 1.8%

Shares of SMG stock opened at $53.08 on Friday. The Scotts Miracle-Gro Company has a 12 month low of $45.61 and a 12 month high of $93.90. The firm has a market cap of $3.06 billion, a PE ratio of 69.84 and a beta of 1.96. The stock has a 50 day moving average of $58.27 and a 200-day moving average of $60.29.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.40. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 earnings per share. As a group, equities analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling

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

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.