The Scotts Miracle-Gro Company Declares Quarterly Dividend of $0.66 (NYSE:SMG)

The Scotts Miracle-Gro Company (NYSE:SMG) announced a quarterly dividend on Wednesday, November 5th. Investors of record on Friday, November 21st will be paid a dividend of 0.66 per share by the basic materials company on Friday, December 5th. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, November 21st.

Scotts Miracle-Gro has raised its dividend payment by an average of 0.0%per year over the last three years. Scotts Miracle-Gro has a dividend payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Scotts Miracle-Gro to earn $4.04 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 65.3%.

Scotts Miracle-Gro Trading Up 2.7%

Shares of Scotts Miracle-Gro stock opened at $55.92 on Thursday. The stock has a 50-day moving average price of $57.64 and a 200 day moving average price of $60.44. The company has a market cap of $3.23 billion, a P/E ratio of 73.58 and a beta of 1.96. Scotts Miracle-Gro has a 1 year low of $45.61 and a 1 year high of $85.18.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.88) by ($0.08). The business had revenue of $387.40 million during the quarter, compared to analysts’ expectations of $396.75 million. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The firm’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company posted ($2.31) earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. On average, equities analysts forecast that Scotts Miracle-Gro will post 3.42 earnings per share for the current fiscal year.

Insider Transactions at Scotts Miracle-Gro

In related news, EVP Mark J. Scheiwer acquired 1,790 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average price of $61.32 per share, with a total value of $109,762.80. Following the acquisition, the executive vice president owned 10,130 shares in the company, valued at approximately $621,171.60. The trade was a 21.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the stock in a transaction dated 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 transaction, the director directly owned 13,217,641 shares in the company, valued at approximately $832,975,735.82. This represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 25.37% of the company’s stock.

Institutional Trading of Scotts Miracle-Gro

Hedge funds have recently added to or reduced their stakes in the business. American National Bank & Trust bought a new stake in Scotts Miracle-Gro during the 2nd quarter valued at approximately $28,000. Covestor Ltd boosted its stake in Scotts Miracle-Gro by 201.1% during the 3rd quarter. Covestor Ltd now owns 527 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 352 shares during the period. Hantz Financial Services Inc. boosted its stake in Scotts Miracle-Gro by 157.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 584 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 357 shares during the period. Smartleaf Asset Management LLC boosted its stake in Scotts Miracle-Gro by 156.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 634 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 387 shares during the period. Finally, Avalon Trust Co bought a new stake in Scotts Miracle-Gro during the 1st quarter valued at approximately $41,000. Institutional investors own 74.07% of the company’s stock.

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.