Aigen Investment Management LP Purchases 6,091 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Aigen Investment Management LP raised its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 170.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,657 shares of the basic materials company’s stock after purchasing 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 quarter.

Several other large investors have also bought and sold shares of the company. Global X Japan Co. Ltd. bought a new stake in shares of Scotts Miracle-Gro during the third quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its position in shares of Scotts Miracle-Gro by 427.0% during the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after buying an additional 269 shares during the last quarter. Blue Trust Inc. increased its holdings in Scotts Miracle-Gro by 83.6% in the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Scotts Miracle-Gro during the 2nd quarter valued at about $25,000. Finally, Versant Capital Management Inc lifted its position in Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 173 shares during the period. 74.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on SMG shares. Truist Financial reduced their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 8th. UBS Group reduced their price target 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. Wells Fargo & Company dropped their price objective on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. reduced 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 report on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Scotts Miracle-Gro has an average rating of “Hold” and an average target price of $78.60.

Insiders Place Their Bets

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $6,038,270.90. Following the transaction, the insider now directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Nathan Eric Baxter sold 2,988 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $211,938.84. Following the completion of the transaction, the chief operating officer now owns 37,920 shares in the company, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value 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 company insiders.

Scotts Miracle-Gro Trading Down 1.1 %

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

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.59%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s dividend 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.