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

The Scotts Miracle-Gro Company (NYSE:SMG) declared a quarterly dividend on Wednesday, November 5th. Investors of record on Friday, November 21st will be given 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 is Friday, November 21st.

Scotts Miracle-Gro has raised its dividend by an average of 0.0%annually over the last three years. Scotts Miracle-Gro has a payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. 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%

Scotts Miracle-Gro stock opened at $55.92 on Thursday. The firm has a market capitalization of $3.23 billion, a P/E ratio of 73.58 and a beta of 1.96. The stock has a fifty day moving average price of $57.64 and a 200 day moving average price of $60.44. Scotts Miracle-Gro has a 52 week low of $45.61 and a 52 week high of $85.18.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share for the quarter, missing the consensus estimate of ($1.88) by ($0.08). The firm 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 company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business posted ($2.31) earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. As a group, equities analysts predict that Scotts Miracle-Gro will post 3.42 EPS for the current year.

Insider Activity

In other news, Director Hagedorn Partnership, L.P. sold 56,633 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 13,217,641 shares in the company, valued at $832,975,735.82. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Scheiwer bought 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 completion of the purchase, the executive vice president directly owned 10,130 shares of the company’s stock, valued at approximately $621,171.60. This represents a 21.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 25.37% of the stock is owned by company insiders.

Institutional Trading of Scotts Miracle-Gro

Large investors have recently modified their holdings of the business. Sound Income Strategies LLC lifted its holdings in Scotts Miracle-Gro by 219,313.5% in the second quarter. Sound Income Strategies LLC now owns 162,366 shares of the basic materials company’s stock worth $10,710,000 after acquiring an additional 162,292 shares during the last quarter. Amundi lifted its holdings in Scotts Miracle-Gro by 519.9% in the first quarter. Amundi now owns 58,000 shares of the basic materials company’s stock worth $3,083,000 after acquiring an additional 48,643 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Scotts Miracle-Gro in the second quarter worth about $901,000. Nuveen LLC bought a new position in Scotts Miracle-Gro in the first quarter worth about $5,475,000. Finally, Pallas Capital Advisors LLC bought a new position in Scotts Miracle-Gro in the second quarter worth about $287,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.

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.