The Scotts Miracle-Gro Company (SMG) to Distribute Quarterly Dividend of $0.66 on September 4th

The Scotts Miracle-Gro Company (NYSE:SMG) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, August 21st will be given a dividend of 0.66 per share by the basic materials company on Friday, September 4th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 21st.

Scotts Miracle-Gro has decreased its dividend payment by an average of 0.2%annually 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 $4.64 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 56.9%.

Scotts Miracle-Gro Stock Down 3.4%

Shares of SMG stock opened at $70.58 on Thursday. Scotts Miracle-Gro has a twelve month low of $52.00 and a twelve month high of $75.34. The stock’s fifty day simple moving average is $64.53 and its 200 day simple moving average is $64.21. The firm has a market capitalization of $4.11 billion, a P/E ratio of 39.43 and a beta of 1.81.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.48 by $0.34. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $2.59 earnings per share. As a group, equities research analysts expect that Scotts Miracle-Gro will post 4.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC bought a new stake in Scotts Miracle-Gro in the first quarter valued at approximately $26,000. Key Capital Management INC bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Scotts Miracle-Gro in the 3rd quarter valued at $32,000. Elevation Wealth Partners LLC increased its position in shares of Scotts Miracle-Gro by 394.1% during the second quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company’s stock worth $51,000 after buying an additional 599 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in Scotts Miracle-Gro by 127.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock worth $52,000 after buying an additional 499 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

About Scotts Miracle-Gro

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.