Scotts Miracle-Gro Company (The) (SMG) Declares $0.53 Quarterly Dividend
Scotts Miracle-Gro Company (The) (NYSE:SMG) announced a quarterly dividend on Wednesday, November 1st, RTT News reports. Shareholders of record on Friday, November 24th will be paid a dividend of 0.53 per share by the basic materials company on Friday, December 8th. This represents a $2.12 dividend on an annualized basis and a yield of 2.13%.
Scotts Miracle-Gro Company (The) has raised its dividend by an average of 8.4% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Scotts Miracle-Gro Company (The) has a dividend payout ratio of 54.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Scotts Miracle-Gro Company (The) to earn $4.33 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 49.0%.
Scotts Miracle-Gro Company (The) (NYSE:SMG) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Scotts Miracle-Gro Company (The) had a net margin of 7.85% and a return on equity of 36.28%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 earnings per share.
Several research firms have issued reports on SMG. KeyCorp restated a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research report on Monday, October 16th. Zacks Investment Research lowered shares of Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, BidaskClub upgraded shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Scotts Miracle-Gro Company (The) presently has an average rating of “Hold” and a consensus price target of $100.00.
In other Scotts Miracle-Gro Company (The) news, CFO Thomas Randal Coleman sold 13,973 shares of Scotts Miracle-Gro Company (The) stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $96.14, for a total value of $1,343,364.22. Following the transaction, the chief financial officer now owns 19,959 shares in the company, valued at $1,918,858.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nancy G. Mistretta sold 5,000 shares of Scotts Miracle-Gro Company (The) stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $100.11, for a total transaction of $500,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 238,470 shares of company stock worth $22,837,882. 28.16% of the stock is currently owned by company insiders.
Scotts Miracle-Gro Company (The) Company Profile
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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